NZX 50 Ends 0.2% Lower After Reversing Early Gains

The NZX 50 fell 21 points, or 0.2%, to close at 12,970 on Monday, erasing gains from the previous two sessions and reversing morning strength, mainly weighed down by the energy, tech, consumer staples, real estate, and healthcare sectors. The broader index pulled back from its highest level since May 14, touched on Friday, as traders remained cautious ahead of the RBNZ’s monetary policy decision on Wednesday, with markets expecting the central bank to keep interest rates unchanged. Caution was also built as traders anticipated the release of the government’s 2026 budget later this week. However, gains in US futures capped the decline amid hopes of a US-Iran deal to end the war. Among the top losers were Gentrack Group (-7.3%), Channel Infrastructure (-2.7%), Summerset Group (-2.2%), Westpac Banking Corp. (-1.6%), A2 Milk (-1.6%), Hallenstein Glasson (-1.5%), and Fisher & Paykel (-1.3%).

The NZX 50 climbed 42 points, or 0.3%, to 13,033 in Monday morning trade, gaining for a third straight session and hitting its highest level since May 13, tracking gains on US futures amid hopes of a US-Iran deal to end the war. Positive data last week continued to lift sentiment after New Zealand’s retail sales grew more than expected in Q1 and the trade surplus reached a record high, with exports increasing to an all-time high. However, traders remained focused on the RBNZ’s monetary policy decision later this week, with markets expecting the central bank to keep interest rates unchanged while anticipating the release of the government’s 2026 budget. Healthcare, consumer staples, and energy stocks mainly drove the index, with notable gains from South Port NZ (1.9%), Infratil (1.1%), A2 Milk (1.0%), Summerset Group (1.1%), Fisher & Paykel (0.9%), and Mainfreight (0.6%).

The NZX 50 rose 113 points, or 0.9%, to close at 12,991 on Friday, rising for a second straight session and reaching its highest level since May 14, while tracking gains in US futures as oil prices eased amid hopes of a US-Iran deal to end the war. Fresh data also lifted sentiment, as New Zealand’s retail sales grew more than expected in Q1, following Thursday’s data showing the trade surplus reached a record high, with exports climbing to an all-time high. However, traders remained focused on the RBNZ’s monetary policy decision due next week, with markets expecting the central bank to keep interest rates unchanged. Almost all sectors traded in the green, led by energy, followed by industrials and healthcare. Among the top performers were Ryman Healthcare (6.3%), Summerset Group (5.3%), Mainfreight (4.3%), Westpac Banking Corp (2.0%), Freightways (1.2%), and ANZ Group (0.9%). For the week, the index rose 0.2% after declining in the previous week.