NZX50 bounces back as Trump eases up on Greenland talk

The a2 Milk Co led the benchmark higher and Fisher & Paykel Healthcare advanced as fears about international trade subsided, while power companies were broadly stronger after Genesis Energy raised its earnings guidance and Contact Energy’s latest operating metrics showed increased hydro storage.

Fletcher Building gained after Real Estate Institute figures showed the housing market remained sluggish, while Statistics New Zealand data reported net immigration was still cool in November, even as the outflow of Kiwis slowed down.

And the kiwi dollar dropped against its Australian counterpart after stronger than expected jobs growth across the Tasman stoked expectations for the Reserve Bank of Australia to start hiking the cash rate as early as next month.

Turnaround