The NZX 50 added 63.05 points or 0.51% to 12470.34 on Friday, advancing 0.3% for the week and trading near all time high valuations. Investors monitored developments in further US fiscal stimulus as lawmakers continue negotiating a package to bolster the US economy. While House speaker Nancy Pelosi signaled optimism on a deal with the administration, she also revealed that she and Treasury Secretary Steven Mnuchin had not spoken on Thursday. On the data front, the annual inflation rate in New Zealand edged down to 1.4% year-on-year in the third quarter of 2020 from 1.5% in the previous three months, below market expectations of a 1.7% increase.
Historically, the New Zealand Stock Market (NZX 50) reached an all time high of 12545.33 in October of 2020. New Zealand Stock Market (NZX 50) - data, forecasts, historical chart - was last updated on October of 2020.
The New Zealand Stock Market (NZX 50) is expected to trade at 12282.04 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 11734.59 in 12 months time.