New Zealand Shares Continue Rebound as US Considers Easing of Some Tariffs

MT Newswires Live
5 hours ago

New Zealand shares rebounded on Thursday's close following recent media reports that the administration of US President Donald Trump is considering easing some of the trade tariffs it had imposed.

The S&P/NZX 50 Index jumped 0.51% or 61.37 points to close at 12,017.84.

The Trump administration will consider lowering tariffs on imported Chinese goods pending talks with Beijing, Reuters reported, citing a source familiar with the matter.

Meanwhile, the Financial Times reported that US President Donald Trump is planning to spare carmakers from some tariffs.

On the domestic front, New Zealand's consumer confidence strengthened in April in signs that households are "relatively unfazed" by ongoing global trade tensions, according to a survey by ANZ Research and Roy Morgan Research. The ANZ-Roy Morgan Consumer Confidence rose to 98.3 in April from 93.2 in March.

Elsewhere, demand for residential mortgage loans was one of the only indicators to rise over the half-year to March as cuts to the official cash rate have improved mortgage affordability, and it is expected to rise further in the coming half-year, according to a credit conditions survey by the Reserve Bank of New Zealand.

In corporate news, Mercury NZ (NZE:MCY, ASX:MCY) appointed senior energy executive Catherine Thompson as chief sustainability officer, effective July 28. She will succeed Lucie Drummond. Thompson held executive-level roles at Contact Energy (NZE:CEN, ASX:CEN) and Manawa Energy (NZE:MNW).

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