The NZX 50 rose 48 points, or 0.4%, to close at 12,977 on Thursday, extending gains from the previous session as Wall Street advanced Wednesday, supported by renewed optimism over potential de-escalation in the Iran conflict. Risk appetite was also lifted by news that U.S. President Donald Trump will travel to Beijing on May 14–15 for a summit with Chinese leader Xi Jinping, rescheduled from March 31, amid Middle East tensions. Sector gains were led by transport, industrial services, consumer non-durables, and retail trade ahead of the March business and consumer confidence data in New Zealand. However, declines in consumer durables, producer manufacturing, and energy minerals capped strength. Among notable movers were Mainfreight Ltd. (6.4%), Hallenstein Glasson Holdings (2.7%), Delegat Group (2.1%), and Mercury NZ (2.0%). Synlait Milk slipped 1% as it lost its largest customer, a2 Milk Co., signaling weaker first-half results.
