NZX 50 Halts Losses at Close, Up 0.3%

The NZX 50 climbed 35 points, or 0.3%, to 13,210 on Monday, reversing morning weakness and recovering losses from the previous session after posting a second consecutive weekly gain in the prior week. The advance was mainly supported by financials, technology, energy, and consumer staples, while declines in healthcare, industrials, and consumer discretionary stocks capped gains. Traders remained cautious ahead of New Zealand's food inflation data and manufacturing PMI, both due later this week. Investors also awaited US inflation data on Tuesday amid rising fuel prices, which could help guide the Fed's monetary policy decision at its upcoming meeting. Meanwhile, a decline in US futures amid escalating US-Iran tensions limited gains after US President Trump rejected Iran's proposal to end the conflict. Among the top performers were Infratil (4.6%), South Port New Zealand (4.0%), AFT Pharmaceuticals (2.5%), Meridian Energy (1.6%), Chorus (1.2%), A2 Milk (0.9%), and Mercury NZ (0.7%).

The NZX 50 dropped 42 points, or 0.3%, to 13,133 in Monday morning trading, down for the second straight session, tracking a fall in US futures amid escalating US-Iran tensions. Traders were also cautious as they awaited consumer and producer price data from China, New Zealand's top trading partner, later today amid continued weak demand in the mainland. Caution also grew as traders anticipated US inflation data on Tuesday amid rising fuel prices, which could help guide the Fed's monetary policy decision at its upcoming meeting. Domestically, traders are also anticipating New Zealand's food inflation data and manufacturing PMI, both due this week. The broader index declined after posting a second weekly gain in the prior week, mainly weighed down by energy, communication services, and industrials. Among the biggest laggards were Hallenstein Glasson Holdings (-1.3%), Colonial Motor Company (-0.7%), Briscoe Group (-0.6%), ANZ Group (-0.5%), and Australian Foundation Investment (-0.5%).

The NZX 50 fell 95 points, or 0.7%, to close at 13,175 on Friday, erasing gains from the previous two sessions as fighting between the US and Iran flared, dampening hopes for an end to the conflict. The broader index retreated from its highest level since April 9, reached a day earlier, tracking a downbeat session on Wall Street overnight, with most sectors trading in the red, led by consumer staples. Caution was also built as investors anticipated the release of US jobs data later today, trade data from China scheduled for this weekend, and Chinese inflation data due next week to guide the economic outlook for both countries. Domestically, traders also await New Zealand's food inflation and manufacturing PMI data due next week. Among the worst performers were Westpac Banking Corp. (-4.3%), Ventia Services Group (-2.5%), A2 Milk (-2.2%), Port of Tauranga (-1.8%), and ANZ Group (-1.5%). For the week, the index rose 1.7%, marking a second consecutive weekly gain.