Infratil rides the AI wave, leads NZX50 higher

New Zealand’s S&P/NZX 50 index overcame a soft day across the Tasman, where another profit warning from CSL weighed on the broader health sector, with Infratil and doing the heavy lifting, buoyed by the rally among chipmakers on Friday.

Air New Zealand, Tourism Holdings and Channel Infrastructure were among the day’s gainers as the government refined its fuel response plan, beefing up diesel supplies and working on a specific regime for jet fuel.

US President Donald Trump rejected Iran’s peace offer as totally unacceptable, pushing up oil prices and leading to a lengthening the odds of a permanent deal on the Polymarket prediction market.

And Pacific Edge entered a trading halt as it prepares to raise $24 million in a placement to institutional investors and a smaller offering to retail investors, to shore up the bladder cancer detection test maker’s balance sheet as the firm pursues a resumption to its coverage under the US Medicare programme.