The NZX 50 climbed 109 points, or 0.8%, to 13,145 in Wednesday morning trade, halting losses from the previous session after the unemployment rate unexpectedly declined in Q1 2026. The latest data showed New Zealand’s unemployment rate inched down to 5.3% in Q1, lower than both the previous quarter and market expectations of 5.4%, which had been the highest level since Q2 2015. The broader index hit its highest level since April 10, mainly buoyed by financials, materials, and energy stocks. Sentiment was also lifted by a statement from RBNZ Governor Anna Breman in the Financial Stability Report, noting that the country’s financial system is resilient and well-positioned to support households and businesses. The index tracked a rise in US futures following a rally on Wall Street overnight, supported by solid earnings reports and lower energy prices. Among the top movers were Infratil (13.2%), Westpac Banking Corp. (4.4%), Turners Automotive Group (3.6%), and ANZ Group (2.6%).