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NZX Midday Sector Update: Energy Minerals Advance, Consumer Non-Durables Decline

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Energy minerals shares gained the most on New Zealand's Exchange, rising nearly 1% by midday Wednesday.

Shares of Channel Infrastructure (NZE:CHI, ASX:CHI) rose almost 1% in recent trade.

The company's two refurbished tanks at Northland's Marsden Point, which will store New Zealand's strategic diesel supply, are officially in use, following an event attended by Prime Minister Christopher Luxon and senior government ministers to mark the completion and recommissioning of the tanks, according to a Tuesday government statement.

Meanwhile, consumer non-durables sector shares fell past 2%.

a2 Milk Company (NZE:ATM, ASX:A2M) was down 5% in recent trade.

The company on Tuesday said China infant milk formula supply disruptions weighed heavily on fourth-quarter sales, with fiscal 2026 China label infant milk formula sales declining about 14% year on year amid demand surges, freight challenges, production delays, and regulatory changes.

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US equity indexes were mixed Thursday after nonfarm payrolls data showed a decline in new jobs.* The June employment report showed nonfarm payrolls rose by 57,000, according to the Bureau of Labor Statistics, below the 113,000 jump expected in a Bloomberg-compiled survey. May payrolls were revised downward to a 129,000 gain, and April payrolls were revised down to a 148,000 expansion* The Atlanta Federal Reserve's gross domestic product 'Nowcast' estimate came in at 1.2% growth in Q2, versus the previous 2.5% forecast.* August West Texas Intermediate crude oil fell $0.14 to settle at $68.44 per barrel, while August Brent crude, the global benchmark, was last seen up $0.03 at $71.60.* Apple (AAPL) plans to launch five new iPhone models despite a memory shortage that is driving up prices, Nikkei Asia reported Thursday. Shares of the company were up about 4.8%, the top gainer on the Dow.* Tesla's (TSLA) shares were down about 7.5%, among the steepest decliners on the Nasdaq, even after the company's Q2 deliveries beat market expectations, while Truist Securities said the electric vehicle maker failed to provide any updates on key topics.

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(Updates with index/price moves from the first paragraph.)US equity indexes traded mixed as the economy added the fewest jobs since February, triggering a rotation out of high-growth sectors and into defensives.The Nasdaq Composite dropped 1.3% to 25,705.9, and the S&P 500 declined 0.5% to 7,446.5 ahead of Thursday's close. The Dow Jones Industrial Average bucked the trend, remaining 0.6% higher at 52,638.7 after hitting a new all-time peak earlier in the session.Communication services, technology, and consumer discretionary were the steepest decliners. Healthcare, consumer staples, and utilities led the gainers.The June employment report showed nonfarm payrolls rose by 57,000, according to the Bureau of Labor Statistics, below the 113,000 jump expected in a Bloomberg-compiled survey. May payrolls were revised downward to a 129,000 gain, and April payrolls were revised down to a 148,000 expansion, for a net downward revision of 74,000 jobs.Most US Treasury yields fell, with the two-year down 2.7 basis points to 4.14%.In geopolitical news, the Doha discussions between the US and Iran produced "positive progress" on issues related to the memorandum that halted the war in June and were "building on the outcomes" from the Switzerland summit, a Qatar Foreign Ministry spokesperson said in a post on X, formerly Twitter, according to Reuters.Negotiators spent two days discussing maritime traffic in the Strait of Hormuz and unfreezing Iran's funds, two critical issues under the initial deal, sources familiar with the discussions told Reuters. Iran issued a fresh warning for vessels to follow Tehran-designated routes through the Strait of Hormuz, CNN reported Thursday.The front-month global benchmark North Sea Brent was little changed at $71.57 per barrel, while the US West Texas Intermediate slipped 0.2% to $68.47 per barrel.

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Update: US Equity Indexes Mixed as Sell-Off in Growth Sectors Follows Smallest Job Addition in Four Months

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