The S&P/NZX 50 index rose 0.2% to close at 12,603 on Monday, extending gains from the previous session as optimism over global trade negotiations eased risks to New Zealand’s export-reliant economy. Investors also digested an improvement in business sentiment, with the ANZ Business Outlook Index climbing to 46.3 in June from May’s ten-month low of 36.6 - the first rise since February. However, gains were pared as Chinese manufacturing contracted for a third straight month amid deflation concerns, posing risks to New Zealand exports given the countries’ close trade ties. Across the bourse, notable gainers included Meridian Energy (+2.3%), Auckland International Airport (+1.5%), A2 Milk (+2.6%), and Vector Limited (+3.8%). On the flip side, top laggards were Fisher & Paykel (-1.4%), Mercury NZ (-1.5%), and Fletcher Building (-1.7%).