Late surge narrows NZX50’s April decline to 0.1%

New Zealand’s S&P/NZX 50 index shrugged off surging oil prices as US President Donald Trump ratchets up the pressure on Iran, with the local market one of the best performers across Asia to almost unwind its decline through April.

KMD Brands posted the sharpest decline in the month as it shed almost half its value and a2 Milk Co tumbled 25%, while Skellerup Holdings, Genesis Energy, Napier Port Holdings and Vista Group International all notched up double-digit gains through April.

Stocks rallied across the board on Thursday, as ANZ’s monthly gauge of business confidence showed firms were nervous and wary of inflation, but not expecting to hike their own prices as sharply as they feared others would.

And T&G Global is carving itself up as controlling shareholder BayWa looks to exit its 14-year-old holding in the local fruit exporter.