Tourism Holdings shrugs off Iran conflict impact in leading NZX50 higher

Tourism Holdings led a broad rally on the S&P/NZX 50 index as the rental campervan operator reaffirmed earnings and played down the impact of the Iran war on forward bookings.

Electricity heavyweight Meridian Energy provided the biggest tailwind to index with the generator-retailers rallying after Contact Energy’s latest monthly update kept earnings expectations intact.

Stock markets across Asia were broadly stronger ahead of the Federal Reserve’s policy review in a week heavy with central bankers outlining their early views on the inflationary impact of the Middle East conflict’s oil shock.

Still, local software companies Vista Group International and Gentrack missed the regional tech rally as they languished near the bottom of the leaderboard.