NZX 50 gains this week as exporters navigate Mid-East tensions

New Zealand’s S&P/NZX 50 ended the week up 0.9% as exporters and healthcare-related names helped offset market uncertainty tied to Middle East tensions easing. On Friday, the index rose 36.23 points, or 0.3%, to 13,618.42, after reaching a four-month high intraday on relatively light trading. Mainfreight advanced 5.8% and Scales Corp, an apple exporter, gained 5.6%, reflecting relief after the US and Iran returned to negotiations and aimed for a sustained ceasefire and uninterrupted traffic through the Strait of Hormuz. Fisher & Paykel Healthcare climbed 1.7% to $39.71 and was the biggest contributor by value, while Ebos Group also supported gains. Turnover on the main board totaled $89.5 million. The weekly picture also included Broad strength in retailers following improved ANZ-Roy Morgan consumer confidence, though KMD Brands and Michael Hill International declined.