The NZX 50 rose 24 points or 0.2% to 12,935 on Tuesday morning, marking its fourth straight session of gains, driven by strength in industrial services, communications, and energy minerals.

Record-high closes on Wall Street’s S&P 500 and Nasdaq Monday also supported sentiment following the announcement of a U.S.-EU trade deal that eased global risk concerns.

Meanwhile, President Trump said the baseline global tariff rate will likely fall “in the range of 15 to 20%.” Hopes that the U.S. Federal Reserve will hold interest rates steady this week also encouraged traders to add new positions.

On the trade front, the U.S. and China resumed talks, with expectations growing for a 90-day extension to their tariff truce.

However, gains were limited by caution ahead of key business and consumer confidence data in New Zealand due later this week.

Early outperformers included Spark NZ (2.4%), Third Age Health Services (2.3%), South Port NZ (2.0%), and PGG Wrightson (1.8%).