{"id":157525,"date":"2025-11-28T05:36:20","date_gmt":"2025-11-28T05:36:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/157525\/"},"modified":"2025-11-28T05:36:20","modified_gmt":"2025-11-28T05:36:20","slug":"nz-stocks-end-firmly-as-outlook-brightens-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/157525\/","title":{"rendered":"NZ stocks end firmly as outlook brightens \u2013 Market close"},"content":{"rendered":"The Reserve Bank this week cut its Official Cash Rate to 2.25% and forecast GDP growth of 2.8% for 2027 and 3.1% for 2028 (March years).<\/p>\n
Solly said the market had a much-improved tone.<\/p>\n
\u201cWe\u2019ve just come through a profit reporting season for the September period and we\u2019ve actually seen more earnings \u2018beats\u2019 against expectations than \u2018misses\u2019, and so we\u2019ve seen more profit upgrades,\u201c he said.<\/p>\n
\u201cI\u2019m not saying it\u2019s off to the races \u2013 not yet \u2013 but it\u2019s better directionally, and we haven\u2019t had that for a long time,\u201d he said, adding that the market had endured three long years of negative earnings revisions.<\/p>\n
Solly said annual GDP growth of around 3%, as forecast by the Reserve Bank, would be a good outcome, particularly against the backdrop of no population growth.<\/p>\n
He noted consumer confidence \u2013 as measured by ANZ Roy Morgan \u2013 had lifted to its highest level since June, with more households expecting to be better off in a year\u2019s time.<\/p>\n
Solly said talk in the market was whether there would be a \u201cSanta\u201d rally going into Christmas, as is often the case, but he added that much depended on whether the US Federal Reserve cuts its fed funds rate on December 18 (US time).<\/p>\n
Among the big-cap stocks, Infratil gained 28c to $11.67 on the back of data from the Australian Bureau of Statistics (ABS) showing new capital expenditure rose 6.4% in the September quarter.<\/p>\n
\u201cThe lift in investment was the result of a large rise in spending on data centres, and investment in air transport,\u201d the ABS said.<\/p>\n
Infratil owns 48% of Canberra-based CDC \u2013 the largest privately-owned and operated data centre business across Australia and New Zealand.<\/p>\n
Fisher & Paykel Healthcare continued to gain after reporting a strong first-half result this week, firming 45c to $37.30.<\/p>\n
Among the other heavyweights, the previously out of favour Ebos rallied by 55c or 2% to $28.50, while Mainfreight gained $1.60 to $67.20, up 2.4%.<\/p>\n
Infrastructure software specialist Gentrack gained 36c to $10.75 ahead of its investor day in Sydney on Monday.<\/p>\n
Ryman gave up some post-result gains to end 1c down at $2.91, while Vulcan Steel dropped 23c or 2.8% to $8.00.<\/p>\n
Among the small caps, New Talisman Gold Mines (NTL) traded at 4c a share before the company went into a trading halt pending the possible addition of a new investor.<\/p>\n
\u201cThe NTL board must meet to consider the company\u2019s current financial position and its strategic path forward,\u201d NTL said.<\/p>\n
\u201cThe board cannot reach a conclusion until it has heard from a potential investor who will advise us on their position early next week.\u201d<\/p>\n
Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.<\/p>\n
Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"The Reserve Bank this week cut its Official Cash Rate to 2.25% and forecast GDP growth of 2.8%…\n","protected":false},"author":2,"featured_media":157526,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[50243,806,1863,9442,104151,651,8615,8127,8532,50217,18845,12469,321,2513,225,111,43,139,69,17695,7676,5352,6926,1125,643,84431,6035,80],"class_list":{"0":"post-157525","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-zealand","8":"tag-anticipated","9":"tag-as","10":"tag-back","11":"tag-better","12":"tag-brightens","13":"tag-close","14":"tag-come","15":"tag-end","16":"tag-ended","17":"tag-firmly","18":"tag-improved","19":"tag-interest","20":"tag-investors","21":"tag-lower","22":"tag-market","23":"tag-new-zealand","24":"tag-news","25":"tag-newzealand","26":"tag-nz","27":"tag-outlook","28":"tag-rates","29":"tag-reporting","30":"tag-season","31":"tag-sharemarket","32":"tag-stocks","33":"tag-strongly","34":"tag-things","35":"tag-zealand"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/157525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=157525"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/157525\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/157526"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=157525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=157525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=157525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}