25.08.202505:41:39UTC+00NZX50 Closes Higher Near 8-Month Peak

On Monday, New Zealand's S&P/NZX 50 index increased by 0.3%, closing at 13,080, marking its fourth consecutive session of gains and reaching an eight-month peak. This upward movement was driven by a boost in risk appetite after Federal Reserve Chair Jerome Powell pointed out the increasing downside risks to the U.S. labor market, indicating the possibility of future interest rate cuts. Nationally, Prime Minister Christopher Luxon expressed disappointment with the Reserve Bank for not reducing rates more aggressively to encourage growth, following a recent 25 basis point cut. Retail sales experienced a 0.5% rise quarter-on-quarter in the three months leading to June, a slowdown from a 0.8% increase in the first quarter but still exceeding expectations of 0.2%, implying that lower interest rates are starting to positively influence activity. Within the stock exchange, sectors such as communications, technology, and non-energy minerals showed the strongest performances, with notable contributions from companies like Chorus (+2.3%), Gentrack (+3.7%), Eroad (+4.3%), Fletcher (+1.3%), and Santana (+2.3%).