04.11.202622:52:47UTC+00NZX 50 Hits 2-Month High, Tracking Wall Street Gains

The NZX 50 climbed 182 points, or 1.3%, to 13,965 in Thursday morning trade, extending a two-session advance and reaching its highest level since September 4. The move followed overnight gains on Wall Street after the Democrats regained control of Congress. Sentiment was further supported by easing oil prices, which tempered concerns about inflation and further interest-rate hikes amid hopes for a peace deal with Iran.

Traders largely looked past Wednesday’s labor market report, even though the unemployment rate unexpectedly rose to an 11-year high of 5.7% in Q3 2026, up from 5.6% in Q2 and contrary to market expectations for a decline to 5.5%.

Nearly all sectors traded higher, with financials, healthcare, and consumer staples among the strongest performers. Notable early gainers included Infratil (up 4.7%), Fletcher Building (2.8%), Westpac Banking Corp. (2.4%), Fisher & Paykel (1.9%), Mainfreight (1.5%), ANZ Group (1.5%), Ebos Group (1.0%), and Freightways Group (0.9%).