The NZX 50 rose 48 points or 0.4% to close at 12,853 on Friday, extending gains for the second session. The advance followed a modest rise in U.S. futures, after record highs on Wall Street’s S&P 500 and Nasdaq Thursday, driven by optimism over potential U.S. trade deals with the EU and China, after a pact with Japan earlier in the week. Gains were led by producer manufacturing, healthcare, and retail trade stocks, supported by comments from RBNZ economist Paul Conway, who said the central bank still sees room to cut interest rates, as U.S.-led tariffs could weaken New Zealand’s economy and reduce inflation pressures. Top performers included Colonial Motor (2.7%), Infratil Ltd. (2.3%), Summerset Group Holdings (1.6%), and Mercury NZ Ltd. (1.4%). Despite Friday’s gains, the index fell 0.2% for the week, reversing strong gains from the previous period, as investors turned cautious ahead of next week’s U.S.-China trade talks and key local data on July business and consumer confidence.