New Zealand's S&P/NZX 50 index ended the day positively, driven by Freightways, which offset a significant drop in A2 Milk shares. The infant formula company's stock fell after a recall of its US products. Major Australian banks experienced a decline after the National Australia Bank's profits fell short of expectations. Fletcher Building saw a slight increase, and power companies showed mixed results. The NZX50 rose 58.48 points, or 0.5%, to 13,097.68, with Freightways leading the gains. A2 Milk's 9.6% drop to $8.05 weighed on the market due to the recall of three batches of A2 Platinum USA label product. Synlait Milk, which produced the formula, is assisting with the recall. The market's late rally helped offset the losses, with Freightways surging 4.3%. The kiwi dollar's weakness against its Australian counterpart supported firms with operations in Australia. Commercial landlords generally performed well, with the 10-year government bond yield decreasing. Energy companies showed mixed results. Across the Tasman, the S&P/ASX 200 index was down. The Reserve Bank of Australia is expected to review monetary policy. Vista Group International rose after affirming its annual guidance. KMD Brands was the most heavily traded stock, and the kiwi dollar increased against the US dollar.
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