The S&P/NZX 50 Index edged up 0.1% to 13,556 on Monday, marking its seventh consecutive gain and closing near a three-week high, driven by strength in heavyweight financial stocks. Westpac Banking led gains, rising 3.8% on strong advances in mortgages and business loans, even as net income dipped in the 12 months ended September. Peers ANZ Group Holdings and Kiwi Property both added 0.5%, respectively. Among other notable movers, commercial services outperformed, with sharp gains in Livestock Improvement Corporation (+9.2%), Solution Dynamics (+2.1%), and Accordant Group (+3.7%). On the downside, Rua Bioscience slumped over 11%, its steepest intraday drop since last December, following a discounted capital raising. On the data front, New Zealand’s consumer confidence eased slightly in October, as investors turned their focus to upcoming third-quarter labor market data.
