New Zealand Shares End Slightly Higher

The NZX 50 rose 13 points, or 0.1%, to close at 12,946, reversing morning weakness while extending advances from the previous two sessions, tracking a rise US futures, buoyed by a statement from US President Trump, who announced he was extending a ceasefire with Iran. Utilities, financials, industrials, and tech sectors mainly drove the index. However, the failure of a second round of US–Iran peace talks and the US blockade on Iran limited gains, as New Zealand remains reliant on energy imports, while domestic inflation concerns persist after Q1 inflation beat market forecasts. Among the top performers were Freightways Group (4.1%), Mainfreight (1.9%), Gentrack Grop (1.5%), Briscoe Group (1.4%), Chorus (1.2%), Infratil (1.1%), Contract Energy (1.0%), and Auckland International Airport (0.9%).

The NZX 50 dropped 45 points, or 0.4%, to 12,887 in Wednesday morning trade, halting gains from the previous two sessions and touching its lowest level since March 30, as it tracked an overnight decline on Wall Street amid uncertainty over the outcome of US–Iran peace talks. Traders also grew concerned about inflation following statements from Finance Minister Nicola Willis, who said inflation would be higher next quarter, amid the RBNZ’s focus on price stability. Tuesday’s data showed inflation stood at 3.1% in Q1, unchanged from Q4’s 1.5-year high and above forecasts of 2.9%, exceeding the RBNZ’s 1–3% target range. However, losses were capped after a statement from US President Trump, who announced he was extending a ceasefire with Iran. Industrials, consumer staples, and financials primarily dragged the index, with the biggest laggards being Meridian Energy (-1.1%), Port of Tauranga (-1.0%), Infratil (-0.7%), and Ebos Group (-0.6%)

The NZX 50 climbed 17 points, or 0.1%, to close at 12,932, paring earlier gains from the morning session while extending advances from the previous session after fresh data showed inflation remained steady in Q1. Inflation stood at 3.1% in Q1, unchanged from Q4’s 1.5-year high and above forecasts of 2.9%, topping the RBNZ’s 1–3% target range and raising expectations that the RBNZ will hold interest rates at its upcoming meeting, as GDP growth eased on a quarter-on-quarter basis in Q4 2025. The broader index tracked gains in US futures amid optimism over a second round of US–Iran negotiations in Islamabad, Pakistan. Real estate, technology, and energy stocks led the market, with notable gains from Mainfreight (+3.7%), Ventia Services Group (2.9%), Hallenstein Glasson Holdings (+2.4%), F&C Investment Trust (+1.7%), Gentrack Group (1.4%), Port of Tauranga (+1.1%), and Fisher & Paykel Healthcare (+0.4%).