New Zealand stocks rise 0.8% as technology shares lift Wall Street

New Zealand stocks advanced 105 points, or 0.8%, to 13,985 in Friday morning trade, ending the previous session’s decline as technology shares drove an overnight Wall Street rally. Optimism over upcoming earnings reports supported sentiment, although traders remained cautious ahead of the RBNZ (New Zealand central bank) monetary policy decision next week and a speech from the Fed chair for clues about the U.S. central bank’s next interest-rate decision. Energy, healthcare and communication services led the index. Channel Infrastructure surged 3.4% ahead of its earnings report, Port of Tauranga rose 1.5% despite reporting lower net profit, and Sky Network TV jumped 7.4% after reporting more than double the net profit. The index was heading for a muted weekly finish after recording its third consecutive weekly gain.

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