Tech stocks back in favour as NZX50 joins rally on ebbing Iran fears
Tech stocks including Gentrack and Vista Group International were at the top of the leaderboard as the S&P/NZX 50 index joined a global rally amid easing concerns of a protracted conflict in the Middle East.
The improvement in investor sentiment boded well for newly-listed Taiko Critical Minerals, which doubled on its NZX debut ahead of a planned capital raising later this year.
Building products firms including Fletcher Building, Vulcan Steel and Steel & Tube Holdings rallied even as Statistics New Zealand figures showed construction activity was soft in the final three months of 2025.
And among the eight companies shedding rights to their dividends today, media group NZME was the only one to fall by more than its cash return, with Meridian Energy, Port of Tauranga and Precinct Properties NZ gaining despite the capital adjustment.
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