NZX 50 gains as oil prices ease; Vista hits two-month high

New Zealand’s S&P/NZX 50 index was swept up in a broad-based rally as oil prices fell after US President Donald Trump’s latest pause in hostilities with Iran to let diplomats try to reopen the Strait of Hormuz.

Vista Group International touched a two-month high after the cinema software firm caught a currency tailwind as first-half revenue climbed 12%, and the company raised its forecast for the rest of the year.

Meanwhile, the kiwi dollar hit a month-low against the yen as Japanese and US officials confirmed their coordinated intervention in foreign exchange markets, with Japan’s finance minister Satsuki Katayama saying her government won’t hesitate to step in again if necessary.

And retailers were broadly stronger after Briscoe Group eked out a small gain in second-quarter sales and improving gross margins, following on from ongoing recovery in households’ appetite to make big-ticket purchases.