NZ Shares Slip but Log First Weekly Gain

The NZX fell 92 points, or 0.7%, to close at 13,181 on Friday, reversing morning strength and halting gains from the previous four sessions. The broader index declined from a three-week high reached a day earlier, amid a fragile US-Iran ceasefire. Iran and the US agreed on Tuesday to a two-week ceasefire brokered by Pakistan, but fighting was still taking place following the announcement, despite Israel signaling openness to negotiations. Fresh data from China also pressured sentiment, as CPI in the mainland rose less than expected, although PPI climbed for the first time in three years. Traders also anticipated the release of March US inflation data amid rising oil prices, as well as a series of Chinese data, including GDP, next week.Tech stocks led the decline, with the biggest laggards being Gentrack Group (-4.6%), Summerset Group (-2.4%), Ebos Group (-2.1%), and Fisher & Paykel (-2.0%). However, the index posted a 2.2% weekly gain, the first weekly increase in six weeks.

The NZX 50 rose 16 points, or 0.1%, to 13,289 in Friday morning’s trading, marking a fifth straight gain, following a sharp rise on Wall Street overnight as markets entered a consolidation phase following Wednesday’s relief rally. Sentiment was also lifted by renewed Middle East de-escalation after reports that Israel signaled openness to negotiations with Lebanon. Thursday's statement from RBNZ Governor Anna Breman that the economy is still expected to grow in 2026 if the ceasefire in the Middle East holds also further fueled sentiment. However, traders are awaiting the release of both China and US inflation data later today. Real estate led the gains, followed by financials and industrials. Among the top early gainers were Freightways (1.3%), Ebos Group (1.0%), Infratil (0.6%), Port of Tauranga (0.6%), and Ryman Healthcare (0.5%). For the week, the index is heading for a 0.3% rise, which would be the first weekly increase in six weeks, amid de-escalation in the Middle East conflict.

The NZX 50 rose 20 points, or 0.2%, to close at 13,274 on Thursday, gaining for the fourth straight session, though easing from earlier gains amid a fragile US-Iran ceasefire. The broader index remained at its highest level since March 18, when US President Trump announced a two-week ceasefire between the US-Israel coalition and Iran on Wednesday. Sentiment was also lifted by a statement from RBNZ Governor Anna Breman that the economy is still expected to grow in 2026 if the ceasefire in the Middle East holds. The central bank held its cash rate steady at 2.25% for the second consecutive meeting on Wednesday, reaffirming its commitment to returning inflation to the midpoint of the 1–3% target range. Financials led the advance, followed by consumer staples, consumer discretionary, and healthcare. Top performers included Sanford (4.0%), Infratil (1.7%), A2 Milk (1.3%), Fisher & Paykel Healthcare (1.0%), and Summerset Group (1.0%).