The S&P/NZX 50 rose 0.2% to close at 13,548 on Tuesday, continuing to trade within a tight range as the year for global financial assets drew to a close. The index is set to open on shortened hours on Wednesday and remain closed until Friday for the New Year’s holiday. Most key stocks traded mixed, with gains led by index heavyweights Fisher & Paykel (+0.5%) and Meridian Energy (+0.7%). Other notable movers in the green included Mercury NZ (+1.3%), A2 Milk (+0.9%), Mainfreight (+0.3%), and Ebos Group (+0.4%). On the downside, losses were seen from Auckland International Airport (-0.5%), Contact Energy (-0.5%), Port of Tauranga (-0.4%), and Spark NZ (-0.4%). Elsewhere, investors continued to assess the outlook for further policy easing by the Federal Reserve in 2026, with FOMC meeting minutes due later today. For the year, the benchmark index remains on track for an annual gain of over 3% in 2025.