NZX50 gains lag Asia as BHP reclaims top spot on ASX
New Zealand’s S&P/NZX 50 index lagged behind the rest of Asia as heavyweights Infratil and Meridian Energy buoyed the local benchmark in a flurry of trading at the end of the day.
Gold prices remained elevated after breaking through the US$5,000 an ounce barrier, helping propel mining giant BHP back to the top of the ASX, while junior miner Santana Minerals clawed back some of Monday’s losses amid fears over its consenting process.
The rise of precious metals didn’t take the sheen off Michael Hill International’s upgraded earnings, as the jewellery maker maintained margins through the second half of 2025 as the retailer enjoyed sales growth across all its regions.
And Kiwi Property Group sold its ASB North Wharf site on Auckland’s waterfront to Precinct Properties NZ and Singapore’s GIC for $205 million, a few months after the bank extended its lease on the site for another nine years.
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