ANZ surge leads gains on both sides of the Tasman
ANZ Group Holdings led the S&P/NZX 50 index higher after the smallest of Australia’s big four banks hit all-time highs on both sides of the Tasman after impressing investors with the pace of chief executive Nuno Matos’s turnaround strategy.
Skellerup Holdings gained after beating expectations with its record first-half profit, as the rubber goods maker navigated US President Donald Trump’s tariff regime with greater ease than it had feared.
The mood across Asia was broadly positive, with Australia, South Korea and Japanese markets all hitting records, with Samsung Electronics’ next generation of memory chips buoying semiconductor and chipmakers across the region and offsetting a soft lead from Wall Street where stronger-than-expected jobs growth prompted bond traders to dial back their bets on the pace of rate cuts by the Federal Reserve.
And locally, interest rate sensitive firms such as retirement village operators Summerset Group Holdings and Ryman Healthcare were on the red side of the ledger.
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