New Zealand shares rose on Tuesday, building on gains from Wall Street buoyed by earnings optimism.
The S&P/NZX 50 Index rose 0.6%, or 74.02 points, to close at 12,840.77.
Overnight, the S&P 500 gained 0.8%, while Nasdaq's Composite Index rose 0.9% amid investor optimism over big companies' earnings reports this week. In New Zealand, all eyes are on Wednesday's inflation report that will guide markets' rate cut expectations.
In domestic news, house prices rose for the first time since April, with the nationwide REINZ House Price Index edging up 0.3% month on month in September, according to data from ANZ Research released Tuesday.
In corporate news, Vista Group International's (NZE:VGL, ASX:VGL) second-largest shareholder Fisher Funds plans to vote against Potentia's four resolutions, which include certain director appointments. Vista Group's shares were up 3%.
Elsewhere, Smartpay Holdings (NZE:SPY, ASX:SMP) hit a 52-week low on the heels of the Australian government's plans to crack down on what it calls unfair surcharges via card payments. The payment products and services provider's shares ended Tuesday trade down 14%.
Meridian Energy's (NZE:MEL, ASX:MEZ) shares slipped 0.3% after the power generator reported that its retail sales volumes dropped 3.6% year on year in the first quarter of fiscal 2025.
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