The NZX 50 jumped 109.18 points or 1.02% to close at 10,862.34 on Monday, up for the first session in 4 and moving away from a near 2-week low hit Friday, boosted by news that New Zealand and the EU have completed last week a free trade agreement that could boost the flow of goods and services by 30%. Prime Minister Jacinda Ardern said it had taken 14 years since the idea of a trade agreement was first floated. Risk appetite was also lifted by reports that investors in China and Hong Kong started trading exchange-traded funds (ETFs) in each other's markets today. In the US, stocks ended higher Friday, amid thin trading volumes ahead of a holiday-extended weekend, with gains mainly recorded for utilities and retails. Traders now await the minutes of the US Fed's latest meeting and June's payroll reports later in the week. Me Today led the gains, climbing 8.3%; followed by NZ King Salmon Investments (6.2%), Evolve Education (5.6%), and Marlborough Wine Estates (5.6%).
Historically, the New Zealand Stock Market (NZX 50) reached an all time high of 13643.78 in January of 2021. New Zealand Stock Market (NZX 50) - data, forecasts, historical chart - was last updated on July of 2022.
The New Zealand Stock Market (NZX 50) is expected to trade at 10541.32 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 9930.54 in 12 months time.