New Zealand Stocks Fall 2.1% for the Week

New Zealand’s benchmark S&P/NZX 50 Index dropped 160 points, or 1.2%, to close at 12,906 on Friday, extending losses from the previous session and marking its lowest level since April 2, ahead of the release of Q1 inflation data next week. Traders remained cautious after fresh data showed petrol and diesel prices surged 18.6% and 42.6% in March, respectively, due to the impact of the Middle East conflict, which could push up inflation and influence the RBNZ’s policy path. However, rising U.S. futures capped the decline, buoyed by optimism over U.S.-Iran peace talks after Israel and Lebanon agreed to a 10-day ceasefire. All sectors moved into the red, led by utilities and healthcare. Major laggards included Ryman Healthcare (-3.9%), Meridian Energy (-3.0%), Contact Energy (-1.7%), Freightways Group (-1.6%), Fisher & Paykel Healthcare (-1.4%), Infratil (-1.1%), and Ebos Group (-0.7%). For the week, the index fell 2.1%, after rising the previous week.

The NZX 50 climbed 38 points, or 0.3%, to 13,104 in Friday morning trade, after falling in the previous session, tracking a rally on Wall Street overnight, with the S&P and Nasdaq hitting record highs amid hopes regarding easing Middle East tensions. Most sectors traded in the green, including energy, consumer staples, and healthcare. Sentiment was also lifted by fresh data showing food inflation eased to its lowest level since February 2025, at 3.4% in March. However, traders are anticipating the country's Q1 inflation and trade data, as well as the Chinese interest rate decision due next week. Among the top performers were Ebos Group (2.0%), Summerset Group (1.2%), A2 Milk (-1.1%), Fisher & Paykel Healthcare (0.6%), and Mainfreight (0.4%). For the week, the index is heading for a 0.6% fall, after rising last week amid the Middle East conflict.

The NZX 50 dropped 11 points, or 0.1%, to close at 13,066 on Thursday, reversing gains from the morning session and the previous day, mainly weighed down by energy, consumer staples, technology, and industrial stocks. Traders assessed China’s Q1 GDP data, with the economy growing more than expected but at a slower pace than in the same period of 2025, while both March industrial output and retail sales growth eased from the previous month. However, a rally on Wall Street overnight helped limit losses, supported by optimism over US-Iran ceasefire talks. On the domestic front, New Zealand home prices slipped slightly in March on a seasonally adjusted basis, highlighting modestly softening demand amid rising petrol prices linked to Middle East tensions, according to data from the Real Estate Institute of New Zealand. Among the biggest laggards were Ebos Group (-2.4%), A2 Milk (-1.8%), Briscoe Group (-1.3%), Freightways Group (-1.2%), and Port of Tauranga (-1.1%).