407 stories mentioning S&P/NZX 50 IndexUpdated 1d ago
Trading amid soft New Zealand data pointing to downside CPI risks; miscellaneous shares rose while communications stocks lagged.
Technology services shares gained the most on New Zealand's Exchange, rising past 4% by midday Thursday.Shares of Gentrack Group (NZE:GTK, ASX:GTK) rose nearly 12% in recent trade.On the flip side, the electronic technology sector saw a marginal sell-off on a day when most sectors rallied, shedding 0.3%.Shares of ikeGPS Group (ASX:IKE, NZE:IKE) fell 1% in recent trade.
New Zealand is considering storing its fuel in Singapore and Malaysia amid the impact of the Iran war, according to a report by Bloomberg on Wednesday.The country's resource minister, Shane Jones, revealed that New Zealand does not have surplus storage capacity and is currently exploring alternatives, with Malaysia and Singapore cited as two countries to cater to the country's storing needs, the report said.New Zealand's storage capacity was severely impacted following the closure of a solitary refinery in Auckland in 2022, the report noted.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
New Zealand shares ended higher on Wednesday as all Asian indexes rose amid rising hopes of peace between the US and Iran.The S&P/NZX 50 Index rose 0.84% or 109.49 points to close at 13,145.19.US President Donald Trump said on Tuesday he would temporarily halt an operation escorting ships through the Strait of Hormuz, citing "great progress" in talks toward a broad agreement with Iran, according to a Tuesday Reuters report.Asian indexes were also helped by Tuesday's higher Wall Street close, with the Nasdaq Composite rising 1%, the S&P 500 gaining 0.8%, and the Dow Jones adding 0.7%.In domestic news, the Reserve Bank of New Zealand expects New Zealand's economic recovery to be slower due to the Middle East conflict, which is reducing business profits as higher oil prices cause businesses to invest less and households to save more, according to the central bank's financial stability report.Further, New Zealand's seasonally-adjusted unemployment rate fell to 5.3% in the March quarter from 5.4% in the December 2025 quarter, data from Stats NZ showed.Also, Data from New Zealand's labor market surveys is supportive of its forecast of a 0.8% rise in gross domestic product (GDP) for the March quarter, Westpac said.Finally, a total of 13,743 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 13,068 to 17,289 MT, according to data from the trading platform.In corporate news, Infratil (ASX:IFT, NZE:IFT) said its CDC Data Centres business has signed a 30-year agreement with an unnamed US investment-grade client for 555 megawatts of capacity.Ventia Services Group (ASX:VNT, NZE:VNT) received notice that Macquarie Group (ASX:MQG) and its affiliates became a substantial holder of the company on April 30.
People in New Zealand are increasingly changing their spending habits and behaviors due to the Middle East conflict, according a report by Westpac NZ on Wednesday.The bank said 84% of the people surveyed reported that they adjusted their behavior in response to the conflict, up from 74% of the people surveyed on March 19.The survey was conducted by research platform Ideally on April 30, with 530 respondents aged between 18 and 80.Over three-quarters of the respondents were worried about the impact of the conflict on their finances.Of the respondents who have changed or are considering changing their behavior in the next six months, 41% said they were confident the changes will help them manage the impact of the conflict on their finances, compared with 24% who were unconfident.The people cutting back on non-essential spending rose to 43% as of April 30 from 28% in March, while 51% are now driving less compared with 41% earlier. The survey also showed that 35% of the respondents changed how they shop for their groceries, up from 26% in March.Westpac customers have reduced their card spend on the likes of clothing and restaurant meals to offset their higher fuel costs since the conflict began, Westpac NZ Chief Executive Catherine McGrath noted.Nearly two-thirds of Westpac's home loan customers were more than three months ahead on their repayments at the end of March, up slightly on six months ago. The median customer was 10.6 months ahead.
New Zealand's financial system remains resilient amid elevated global uncertainty, and risks to the housing market appear to be contained, although the impact on overall stability will depend on the duration and severity of the Middle East conflict, the country's central bank said Wednesday.However, the geopolitical situation might result in a slower domestic economic recovery, potentially impacting the employment landscape and creating fresh stress for debt servicing, the Reserve Bank of New Zealand said in its latest financial stability report.The conflict has triggered a surge in oil prices, with petrol and diesel pushing close to their highest levels in 50 years after adjusting for inflation.These higher costs are expected to eat into business profits, with some firms already grappling with weak demand and lacking the same cash buffers from three years ago. Chemical and plastic manufacturers, the transport sector, and parts of the primary sector are most exposed to higher input costs, the central bank said.But despite the risks to the economy, strong export prices mean farmers should be able to manage the shock.The RBNZ adjusted results from its 2025 bank stress test to assess a hypothetical recession in New Zealand, which showed the unemployment rate peaking at 10.5%, house prices plummeting 35%, and gross domestic product shrinking by 6.5%.Banks are well-positioned to provide credit even in a challenging environment. Even in such an imagined scenario, the aggregate common equity tier 1 ratio, a measure of financial strength, for the country's four largest banks remains higher than regulatory minimums and "materially above" levels before the 2008 financial crisis.At a press conference following the report, central bank Governor Anna Breman said unemployment rates for the March quarter "are in line with what they expected from a financial stability perspective."Data released earlier Wednesday showed the seasonally adjusted unemployment rate fell to 5.3% in the March quarter from 5.4% in the last quarter of 2025. The jobs data reinforced the bank's view that the domestic economy was recovering before the conflict erupted.During the meeting with the press, Breman added that despite New Zealand's relatively low sovereign debt levels, the country could see some fiscal impact if longer-dated government bond yields rise.
Data from New Zealand's labor market surveys is supportive of its forecast of a 0.8% rise in gross domestic product (GDP) for the March quarter, Westpac said Wednesday.New Zealand's seasonally-adjusted unemployment rate fell to 5.3% in the March quarter from 5.4% in the December 2025 quarter, data from Stats NZ showed the first decline since December 2021.The bank said it and the market expected a flat outturn, but the result was in line with the New Zealand central bank's February monetary policy statement forecasts.The fall in unemployment was due to the "unusual combination" of a rise in employment along with a fall in labor force participation.The employment measures in the survey painted a fairly consistent picture of a lift in activity over the March quarter, recording a 0.8% rise in the total number of hours worked, a 0.7% rise in full-time equivalent workers and 0.6% gains in filled jobs and hours paid.There is now a range of evidence that the economy was starting to regain some momentum in the early part of 2026, but the conflict in the Middle East has clouded the outlook for both activity and inflation pressures in the months ahead, the report noted.
Finance shares gained the most on New Zealand's Exchange, rising over 4% by midday Wednesday.Westpac Banking (ASX:WBC, NZE:WBC) gained 5% in recent trade.The Reserve Bank of New Zealand on Wednesday said that New Zealand's four largest banks would maintain capital buffers even in a stress scenario where the unemployment rate peaks at 10.5%, gross domestic product declines by 6.5%, and house prices fall by 35%.Meanwhile, the distribution services sector shares fell past 3%.Vulcan Steel (NZE:VSL, ASX:VSL) was down 3% in recent trade.
New Zealand's unemployment rate fell 0.1 percentage point to 5.3% in the first quarter, aligning with the Reserve Bank's February projection, according to a report released by ANZ on Wednesday.The unemployment rate was slightly lower than ANZ's expectation of 5.4%, per the report.Despite this decline, the underlying data revealed weaker-than-expected employment growth of 0.2% quarter on quarter and a slight fall in the labor participation rate.Meanwhile, wage growth remained stable and consistent with target inflation levels.While employment, hours worked, and paid hours all expanded in the quarter and landed in the ballpark of ANZ's first-quarter gross domestic product forecast of 0.8% quarter on quarter, the data is viewed as a "look in the rearview mirror" with recent global oil price shocks shifting the outlook.Figures indicate a labor market that was recovering in alignment with Reserve Bank forecasts before the oil shock, but offer very little insight into the labor market's future path.
The Reserve Bank of New Zealand expects New Zealand's economic recovery to be slower due to the Middle East conflict reducing profits for businesses as a result of higher oil prices, causing them to invest less and households to save more, according to the central bank's financial stability report published on Wednesday.The bank noted that business deposits have declined as a share of gross domestic product over the past three years, particularly for smaller firms, suggesting that businesses do not have the same cash buffers now.Financial markets have become more volatile due to the Middle East conflict, RBNZ said. While New Zealand banks are well funded and have the flexibility to manage short-term disruptions, this volatility could interact with other vulnerabilities and result in a more significant tightening in financial conditions internationally, the central bank added.RBNZ said New Zealand's four largest banks would maintain capital buffers even in a stress scenario where the unemployment rate peaks at 10.5%, gross domestic product declines by 6.5%, and house prices fall by 35%.The central bank said it will release a crisis preparedness consultation package in June, including additional loss-absorbing capital requirements, which would provide a key source of resilience if a scenario worse than the 2025 stress test eventuated.The Depositor Compensation Scheme, which became operational in July 2025 and provides a government-backed guarantee for deposits up to NZ$100,000 if a deposit taker fails, has boosted deposit growth for finance companies, enabling them to reduce term deposit rates to only slightly above what banks are offering, the report added.The housing market generally remains soft, with elevated inventories weighing on house prices, particularly in Auckland and Wellington, with prices around the top of the RBNZ's estimated sustainable range, although rising mortgage rates could reduce house prices further, and growth in mortgage lending has been subdued, the report added.The performance of insurers has been mixed, with health insurers adapting to higher claims costs partly by raising premiums, while dwelling and general insurers have benefited from fewer large claims events, although impacts on claims costs and supply chain disruptions from the Middle East conflict could affect general insurers, who account for about 60% of premiums, RBNZ added.
New Zealand's seasonally-adjusted unemployment rate fell to 5.3% in the March quarter from 5.4% in the December 2025 quarter, data from Stats NZ showed on Wednesday.The seasonally-adjusted number of unemployed people for the quarter was 163,000, down from 165,000 for the December 2025 quarter.The underutilization rate was unchanged at nearly 13% in the quarter, while the participation rate slid 70.4% from 70.5% in the December 2025 quarter.The seasonally-adjusted employment rate was flat at about 67%.The seasonally adjusted youth not in employment, education, or training (NEET) rate rose to over 14% in the March quarter, up from over 13% in the December 2025 quarter."Women aged 20 to 24 continue to have the highest NEET rate, rising 1.9 percentage points to 20.3% in the March quarter," labor market spokesperson Abby Johnston said.
A total of 13,743 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 13,068 to 17,289 MT, according to data from the trading platform.The average selling price for whole milk powder was $3,741 per MT, anhydrous milk fat averaged $6,461 per MT, and mozzarella and butter averaged at $4,010 per MT and $5,525 per MT, respectively.Additionally, cheddar prices averaged $4,611 per MT, lactose averaged $1,522 per MT, and skim milk powder and butter milk powder averaged at $3,547 per MT and $3,467 per MT, respectively.
New Zealand shares ended lower on Tuesday as most Asian indexes saw losses amid fresh attacks exchanged between the US and Iran over the Strait of Hormuz.The S&P/NZX 50 Index fell 0.47% or 61.98 points to close at 13,035.70.The US and Iran exchanged fresh strikes across the Gulf on Monday, vying for control of the Strait of Hormuz with rival maritime blockades and rattling an already fragile truce, according to a Monday Reuters report.Meanwhile, New Zealand signed an agreement with Singapore on Monday to keep supply chains open between the countries during times of crisis, according to a Monday Reuters report.In domestic news, the ANZ World Commodity Price Index fell 0.8% month over month in April, with dairy prices in a period of high volatility, particularly butter and anhydrous milk fat, according to a report from ANZ Research.Further, overall card spending fell 2.5% in April, but was up 4.4% compared with the same time last year, ANZ Research said in a note.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) acknowledged recent media reports about its ongoing strategic review of the residential and development division, including speculation around a potential industrial property sale, but declined to provide further comment.Synlait Milk (ASX:SM1, NZE:SML) obtained two waivers in relation to its syndicated loan facilities, as external challenges continue to strain the company's financial performance.
The ANZ World Commodity Price Index fell 0.8% month over month in April, with dairy prices in a period of high volatility, particularly butter and anhydrous milk fat, according to a Tuesday report from ANZ Research.Dairy prices fell 3.8% sequentially during the month and 7.5% year over year, reflecting strong global supply. The global supply outlook suggests a downward price bias that was temporarily interrupted by the conflict in the Middle East.Meanwhile, the meat and fiber index rose just 0.2% from March. Beef prices fell slightly, but lamb and wool prices rose. A seasonal increase in New Zealand supply put a slight pressure on local prices, but strong demand has kept overseas prices elevated.The horticulture index was flat in April, with the first large shipments of apples and gold kiwifruit just now reaching overseas markets.The forestry index jumped 7.1% in April and was up 9.2% year over year, partially reflecting the higher production and transportation costs.Aluminum prices jumped 6.3% month over month to a record high, and soared roughly 51% year over year. A large aluminum smelter in the United Arab Emirates was damaged in March, tightening global supplies. The Middle East accounts for around 8% to 9% of global production.
Overall card spending fell 2.5% in April, but was up 4.4% compared with the same time last year, ANZ Research said in a note Tuesday.Spending at fuel, charging, and service stations lifted 0.9% in April on top of a nearly 21% lift in March. Card spending at fuel stations rose 0.3% in April, once adjusted for typical seasonality.Spending at car and truck dealerships fell 7.9% after the March spike in electric vehicle sales, but motorcycle and bike shops were up 0.8% and 1.9%, respectively.Spending in the hospitality sector retreated 0.2% in the month. This followed a 2.7% fall in March. Apparel category spending fell a further 1.5% in April on top of a 2.5% decline in March.A decline of 1.4% in spend in the grocery category is unusually large, the report noted.Spending at second-hand good stores fell 3.3% on top of a 3.2% fall last month. The data showed an over 19% fall in spending at airlines and airports in April, and a more than 32% fall at tour and travel agencies.Most services also saw reduced spending in April, including a 2.8% month-over-month fall in health and beauty services and a 1.9% fall in hairdressing. Public transport spending fell 7% after a sharp jump in March, but was up 5.7% year over year.
Electronic technology shares gained the most on New Zealand's Exchange, rising nearly 3% by midday Tuesday.Shares of ikeGPS Group (NZE:IKE, ASX:IKE) rose almost 7% in recent trade.On the flip side, the technology services sector struggled, shedding more than 14%.Shares of Gentrack Group (NZE:GTK, ASX:GTK) fell past 30% in recent trade.The company on Tuesday said it now expects fiscal year 2026 revenue of between NZ$229 million and NZ$238 million, lower than its previous guidance.
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