19.12.202505:19:22UTC+00New Zealand Stocks Rebound

On Friday, the S&P/NZX 50 index experienced a rise of 0.6% to close at 13,333, successfully breaking a two-day losing streak. This increase was fueled by positive domestic data and further strengthened by gains on Wall Street. Notably, consumer confidence in New Zealand reached its highest level in over four years in December, complemented by business sentiment soaring to a 30-year peak. Additionally, the trade deficit was reported to be narrower than anticipated, with exports growing significantly faster than imports. This information coincided with Thursday's revelation that the economy resumed growth in the third quarter, indicating a revival in activity following a series of aggressive interest rate cuts. Major market players contributed to the recovery, with notable performances from Infratil (+2.6%), Contact Energy (+1.9%), Mercury NZ (+1.0%), and Ebos Group (+2.2%). In the United States, equities bounced back on Thursday, particularly in the tech sector, as cooler-than-expected inflation data heightened expectations for potential Federal Reserve rate cuts in the upcoming year. Despite Friday's gains, the NZX 50 ended the week with a 0.55% decline, marking its second consecutive weekly dip.