New Zealand shares advanced on Tuesday after Wall Street logged gains as markets assessed recent comments from Federal Reserve Chair Jerome Powell.

The S&P/NZX 50 Index gained 0.35%, or 42.87 points, to close at 12,466.69.

The Nasdaq Composite and S&P 500 each rose 0.4% after Powell suggested that the US central bank is poised to cut rates further but noted that the monetary policy is not on a "preset course."

In local equities, consumer durables were the biggest gainers, registering a 9.3% increase.

In macroeconomic data, business confidence showed a marked improvement in the September quarter with only 5% of firms expecting a deterioration in general economic conditions in the coming months, according to a Tuesday report from the New Zealand Institute of Economic Research.

New homes consented in the year ended August fell 20% to 33,632, with the number of multi-unit homes approved down to its three-year low, Stats NZ said.

In corporate news, Fletcher Building (NZE:FBU, ASX:FBU) completed the sale of its Australian plumbing supplies and distribution business, Tradelink, to Metal Manufactures for AU$170 million. Shares were up 3% on close.

Vista Group International (NZE:VGL, ASX:VGL) ended Tuesday trade 2% lower after Admetus Capital requested the board call a special shareholder meeting to vote on the removal of the group's board chair and to appoint two Potentia-nominated directors.

Scales (NZE:SCL) settled the sale of its Te Papa and Blyth orchards to a fund managed by Craigmore Sustainables. The agribusiness company gained 4% at market close.