S&P/NZX 50 Index

New Zealand Shares Flat; Air New Zealand CFO to Resign

New Zealand shares ended flat with a positive bias on Wednesday, while Asian shares were mixed after the US decided to extend the Iran ceasefire.The S&P/NZX 50 Index was little changed to close at 12,945.60.US President Donald Trump said he would extend the ceasefire with Iran indefinitely to allow more time for peace negotiations, though it remained unclear on Wednesday whether Iran or Israel would agree, according to a Wednesday Reuters report.Meanwhile, the "golden visa" program of New Zealand has lured nearly NZ$4 billion in committed and pipeline investment in its first year, the government said on Wednesday, as Wellington looks to draw wealthy migrants and growth capital, Reuters reported on Wednesday.In domestic news, a total of 14,993 metric tonnes (MT) of products were sold during the Global Dairy Trade auction held on Tuesday, with supply ranging from 14,166 to 18,737 MT, according to data from the trading platform.In corporate news, Air New Zealand (ASX:AIZ, NZE:AIR) said that Chief Financial Officer Richard Thomson has resigned, effective Aug. 28.NZX (NZE:NZX) appointed Graham Law, chief financial and corporate officer, as acting chief executive, effective May 1.

NZX Midday Sector Update: Commercial Services Soar, Consumer Durables Struggle

Commercial services shares gained the most on the New Zealand Exchange, rising almost 1% by midday Wednesday.Accordant's (NZE:AGL) shares rose nearly 4% in recent trade.On the other hand, consumer durables shares dropped past 4%.KMD Brands' (NZE:KMD, ASX:KMD) shares slid past 4% in recent trade

Quantity Sold at GDT Auction Nearly Reaches 15,000 Metric Tonnes

A total of 14,993 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 14,166 to 18,737 MT, according to data from the trading platform.The average selling price for whole milk powder was $3,666 per MT, anhydrous milk fat averaged $6,357 per MT, and mozzarella and butter averaged at $3,850 per MT and $5,702 per MT, respectively.Additionally, cheddar prices averaged $4,798 per MT, lactose averaged $1,573 per MT, and skim milk powder averaged at $3,448 per MT.

New Zealand's March-Quarter Inflation Beats Expectations

New Zealand's annual consumer inflation increased 3.1% in the March quarter, according to data from Stats NZ released Tuesday.Annual inflation for the quarter surpassed the 2.9% consensus forecast, according to Trading Economics. Westpac NZ Senior Economist Satish Ranchhod also forecast a 2.8% rise.The figure was unchanged from the 3.1% increase in the 12 months to the December 2025 quarter, the department said.The result also exceeded the Reserve Bank of New Zealand's (RBNZ) updated forecast from its April policy update for 3% annual inflation, Westpac NZ's Ranchhod said.The figures also point to a higher headline inflation forecast by RBNZ Governor Anna Breman in a speech back in March.Electricity prices surged 12.5%, equivalent to more than 10% of the increase, Stats NZ's Prices and Deflators Spokesperson Nicola Growden said.This is the third straight quarter of electric power being the biggest contributor to annual inflation, according to Growden.Local authority rates and payments jumped 8.8% in the March quarter, contributing 8.7% to the inflation increase.Meat and poultry prices grew 8.6% during the quarter and contributed 6.4% to the annual inflation rise.Rent went up 1.2%, with prices comprising 4.6% of the total inflation rise, and gasoline prices edged up 1.1%, equivalent to a 1.3% contribution to inflation, Stats NZ said.Quarterly inflation jumped 0.9% in the March 2026 quarter compared with the December 2025 quarter, according to the department."Petrol is the third-largest expense item for New Zealand households after rent and construction," Growden said in a statement.Gasoline prices comprised 3.5% of typical household spending, according to Stats NZ, citing the 2024 CPI reweight which used household spending data.Pharmaceutical products increased 17.7% during the quarter due to a rise in prescription charges, the Stats NZ report said.Looking ahead, Westpac and the Reserve Bank of New Zealand expect inflation to peak to 4.3% in the June quarter before returning to 3.9% at the end of the year."Today's result suggests upside risk to those forecasts," Ranchhod said in his analysis.In June, oil prices, as well as related transportation and other costs, could weigh on inflation figures, Ranchhod said.

New Zealand Shares Flat; KMD Brands Secures NZ$11 Million in Retail Entitlement Offer Completion

New Zealand shares ended flat on Tuesday despite a broad-based rise in Asian shares as investors showed optimism around the US-Iran peace talks.The S&P/NZX 50 Index was little changed to close at 12,932.33.Iran is considering attending peace negotiations with the US in Pakistan, while Islamabad attempts to end a US blockade on Iranian ports, which is seen as a key obstacle to Tehran's participation, before a two-week ceasefire expires, Reuters said in a separate report, citing a senior Iranian official.Meanwhile, New Zealand Prime Minister Christopher Luxon said on Tuesday he had the backing of National Party lawmakers after holding a leadership confidence vote, following days of speculation that some within the party were pushing to replace him, according to a Tuesday Reuters report.In domestic news, Business confidence in New Zealand declined in the March quarter, as the US-Israel war with Iran fanned fuel prices and caused supply-chain disruptions amid worsening uncertainty around the Strait of Hormuz, the New Zealand Institute of Economic Research (NZIER) said.Meanwhile, New Zealand's annual consumer inflation increased by 3.1% in the March quarter, unchanged from the 3.1% increase in the 12 months to the December 2025 quarter, data from Stats NZ showed.Also, New Zealand consumer prices rose 0.9% in the March quarter, with the annual inflation rate remaining unchanged at 3.1%, resulting in this quarter's inflation going above the previously anticipated 0.7% rise, Westpac said in a report.In corporate news, KMD Brands (ASX:KMD, NZE:KMD) has completed the retail component of its fully underwritten 1-for-0.73 accelerated renounceable entitlement offer, with eligible shareholders subscribing for around 182.6 million new shares at NZ$0.06 each, raising about NZ$11 million as part of a total NZ$58.5 million capital raising.Black Pearl Group (ASX:BPG, NZE:BPG) reported fiscal fourth quarter annual recurring revenue (ARR) of NZ$26.8 million, up 114% year on year.

Latest New Zealand Business Confidence Reading Has No Implications for Official Cash Rate Forecast, ANZ Research Says

The New Zealand Institute of Economic Research's (NZIER) first-quarter survey of business opinion returned mixed results with no specific implications for the risks around ANZ's forecast for the country's official cash rate, the bank said in a Tuesday report.Although the survey showed a pronounced decline in business confidence, deteriorating hiring and investment intentions, and an uptick in inflation indicators, past activity held up in the quarter, and capacity indicators pointed to a marginal tightening in the output gap, ANZ said.It noted that the survey reflected business sentiment at the initial stage of the Middle East conflict, as responses were spread across March. Reported past trading activity, the best indicator for gross domestic product in the survey, was relatively more positive."That said, other indicators of Q1 activity have been weaker, and the forward-looking indicators make for grim reading, so we won't be rushing to lift our GDP forecast," ANZ said.It added that experienced employment fell in the most recent survey, while future employment intentions also slumped, suggesting that a nascent recovery in employment ground to a halt.

New Zealand Consumer Price Rise Surpasses Expectations, Westpac Says

New Zealand consumer prices rose 0.9% in the March quarter, with the annual inflation rate remaining unchanged at 3.1%, resulting in this quarter's inflation going above the previously anticipated 0.7% rise, Westpac said in a report on Tuesday.The result also exceeded the Reserve Bank's updated forecast from its April policy update for 3% annual inflation, Westpac NZ senior economist Satish Ranchhod said.Underpinning the March quarter rise in consumer prices were large increases in some specific areas, including food prices, transport costs, and electricity charges and the tobacco excise tax, along with big rises in vehicle registration and health care costs.Westpac recently updated its forecasts, assuming annual inflation would peak at 4.3% in the June quarter, before slowing down to 3.9% by the end of the year, but there might be an upside risk given Tuesday's result, per the report.

NZX Midday Sector Update: Industrial Services Stocks Rise, Non-Energy Minerals Decline

Industrial services gained the most among New Zealand sectors on Tuesday, advancing 2%.Ventia Services Group (NZE:VNT, ASX:VNT) gained 2% in recent trade.Meanwhile, non-energy minerals shares fell almost 2%.Fletcher Building (NZE:FBU, ASX:FBU) was down nearly 4% in recent trade.

New Zealand's Annual Inflation Rises in March Quarter

New Zealand's annual consumer inflation increased by 3.1% in the March quarter, unchanged from the 3.1% increase in the 12 months to the December 2025 quarter, data from Stats NZ showed Tuesday.The consensus forecast was for an increase of 2.9%, according to Trading Economics.Electricity was the biggest driver of the annual inflation rate, rising by around 13%, the report said.Higher electricity prices made up over a tenth of the 3.1% annual increase, marking the third consecutive quarter in which electricity was the largest upward contributor to inflation, said Nicola Growden, prices and deflators spokesperson.Other key drivers of annual inflation included local authority rates and payments, which rose by 8.8%, meat and poultry up 8.6%, rent up 1.2%, and petrol up 1.1%.On a quarter-on-quarter basis, inflation was up 0.9% in the March quarter after a 0.6% gain in the December 2025 quarter.Higher petrol prices, which rose by 3.5%, were the main contributor to the quarterly inflation rate, while excluding petrol, the consumer price index increased by 0.8% in the March quarter."Petrol is the third-largest expense item for New Zealand households after rent and construction," Growden said.Pharmaceutical prices also rose by about 18% in the March quarter due to higher prescription charges, while confectionery, nuts and snacks, fruit, and electricity were other major contributors to the overall price increase.

Business Confidence in New Zealand Wanes in March Quarter, Says NZIER

Business confidence in New Zealand declined in the March quarter, as the US-Israel war with Iran fanned fuel prices and caused supply-chain disruptions amid worsening uncertainty around the Strait of Hormuz, New Zealand Institute of Economic Research (NZIER) said on Tuesday.The NZIER Quarterly Survey of Business Opinion (QSBO) showed that only a net 1% of firms expected better general economic conditions in the coming months on a seasonally adjusted basis, a sharp fall from 39% in the December quarter.Firms' own trading activity came in flat, an upturn from a 3% drop in the prior quarter. In contrast, around 9% of firms reduced staffing during the quarter, and 5% intend to cut headcount in the next quarter amid broader plans to reduce investment in buildings, plant and machinery."Although firms' domestic trading activity remained stable in the March quarter, the ongoing US-Israel war against Iran poses a risk to the fragile recovery that had been taking shape in the New Zealand economy late last year," the think tank said in a statement.Sentiment was mixed across sectors, with building firms the most downbeat, as 28% expected deterioration in economic outlook. Manufacturing remained the most upbeat, with 34% of firms anticipating improvement.NZIER continues to believe the central bank will start its tightening cycle with a first 25 basis-point official cash rate increase in July.

New Zealand's Annual Inflation at 3.1% in March, Above RBNZ's Target of 1% to 3%

New Zealand's Total Vehicle Registrations Rise in March

New Zealand's total vehicle registrations were 4.7 million in March, an increase of 11,752 from the previous month, covering both six and 12-month licensing periods, data from Stats NZ showed Monday.The increase was driven by a rise in car registrations, which rose by 13,243 month on month to about 3 million, while rental car and motorcycle registrations dropped to 45,500 and 74,581 from 46,999 and 78,829, respectively, the report said.Compared with the year-earlier period, total vehicle registrations in New Zealand rose by 9,221 in March, the report added.

Asia Week Ahead: Inflation; Trade Data; and Central Bank Decisions

The week ahead in Asia is packed with releases covering trade, inflation, and central bank updates which could offer markets fresh clues on how the region is navigating the conflict in the Middle East.Monday begins with trade data from New Zealand and Malaysia, as well as the release of China's loan prime rates.Attention then turns Tuesday to New Zealand's first-quarter inflation report, followed by Bank Indonesia's interest rate decision and Japan's March trade figures on Wednesday.Thursday brings another key central bank decision from the Philippines, as well as first-quarter GDP data from South Korea. Flash PMI reports from India, Japan and Australia will also be closely watched.Friday rounds off the week with Japan's March inflation data, as well as Thailand's trade report.Here's what to watch in the week ahead.MONDAY, April 20The week kicked off with the release of trade data from New Zealand and Malaysia.New Zealand recorded a goods trade surplus of NZ$698 million in March, compared with a deficit of NZ$364.7 million in February.Goods exports rose 7.3% to NZ$7.94 billion, while imports rose 9.6% to NZ$7.25 billion.Malaysia's total trade in goods rose 9.3% annually to 273 billion ringgit in March, driven by growth in both exports and imports.Exports increased 8.3% year on year to 148.8 billion ringgit, while imports rose 10.4% to 124.2 billion ringgit.China kept its loan prime rate or LPR, which is the benchmark for new loans, unchanged after posting a better-than-expected economy amid the Middle East conflict.The People's Bank of China held the one-year LPR at 3% and the LPR of five years or more at 3.5%.Economists at ING said the central bank may keep the rates on hold until conditions warrant monetary policy support. The People's Bank of China has maintained the one-year and five-year LPR since May 2025.TUESDAY, April 21New Zealand is due to report its first quarter inflation data.The country's consumer price index is anticipated to rise by 0.8% quarter on quarter and 2.9% year on year, BofA Securities estimated, slightly below the Reserve Bank of New Zealand's revised April forecast of 3%.Headline inflation is driven by soaring fuel prices in March due to the Middle East conflict, with petrol prices surging nearly 19% and diesel by nearly 43% month on month, according to the firm's research.Taiwan will release its export orders data. According to ING, the city state could see a rebound in orders to around 48.1% year on year from 23.8% previously.WEDNESDAY, April 22Indonesia's central bank will meet for its interest rate decision.ING said it expects Bank Indonesia to keep its policy rate at 4.75% despite inflation running above the central bank's 2.5% target. At 3.5%, inflation is still well below the roughly 5% peak in 2022 that triggered aggressive rate hikes, and with growth softening, the central bank is likely to remain on hold, according to ING.Japan's March trade figures will also be in the news. ING said it expects strong Japanese export growth in March thanks to demand for semiconductors and IT products, pushing the country's trade surplus to 1 trillion yen from 44.3 billion yen in the month prior.Elsewhere, South Korea reports producer price inflation data for March.THURSDAY, April 23Another interest rate decision, this time in the Philippines.The island nation's economy is one of the most susceptible to oil shocks in the region, and the Bangko Sentral ng Pilipinas' upcoming decision is "likely to be close" amid the current geopolitical situation in the Middle East, ING said in a preview.Still, the firm said its base case is for the central bank to maintain rates at 4.25%.South Korea's advance estimates for GDP growth for the first quarter will also capture headlines.Most analysts expect a rebound in growth after the economy contracted in the previous quarter, the Wall Street Journal reported.Barclays economist Bumki Son said the economy is likely to show a growth of 1.2% on a quarterly basis and 3% on a yearly basis thanks to stronger exports and a recovery in private consumption and facility investment, the WSJ reported.A consumer confidence report is also due in South Korea.Hong Kong and Singapore will announce Inflation data for March.Singapore's March print will capture the initial impact of the energy shock from the Middle East conflict, the WSJ reported, citing DBS economists. According to Trading Economics, the rate of price increase could quick to 1.5% year on year from the 1.2% witnessed in February.In Hong Kong, Trading Economics expects inflation to rise marginally to 1.8% on the year from the 1.7% recorded in February.Hong Kong will also release unemployment data the same day.A number of macro releases are expected in Taiwan, covering March retail sales, industrial production, and unemployment.Similar to its export orders, ING said it expects Taiwan's industrial production to rebound to 25.7% year on year from the 17.8% growth recorded in the month prior.On the activity front, S&P Global releases its flash PMI reports covering manufacturing, services, and composite activity in India, Japan, and Australia.FRIDAY, April 24Markets will await March inflation data from Japan.Core inflation, which excludes fresh food but includes energy, is expected to cool to a rate of 1.8% year on year from the 2% witnessed in February, according to a consensus compiled by Trading Economics.According to ING, efforts by Japan's government to stabilize gasoline prices should keep both headline and core inflation rates below 2%.March inflation data will also be due in Macao, which also reports unemployment rate the same day.Trading Economics estimates that March inflation could clock in at 1.2% year on year, modestly higher than the 1.16% witnessed in February.Unemployment, meanwhile, is expected to rise to 1.8% from 1.7% in the month prior, Trading Economics estimated.In Thailand, trade figures for March will be due.Trading Economics expects the country the post a trade deficit of $2 billion for the month, a reversal from the $2 billion surplus in February.A pair of reports covering business and consumer confidence in the first quarter will be due in the Philippines.A business confidence report covering the second quarter will similarly be made available in Hong Kong.

New Zealand Shares End Slightly Higher Amid Rising Middle East Tensions; Channel Infrastructure Secures Deal to Expand Diesel Storage at Marsden Point

New Zealand shares ended marginally higher on Monday after tensions rose in the Middle East, as the end of the two-week US-Iran ceasefire draws near.The S&P/NZX 50 Index edged up 0.1% or 9.8 points to close at 12,915.45.Tensions rose in the Middle East as the US seized an Iranian cargo ship and Iran's top military command vowed to retaliate. US President Donald Trump said he was sending envoys for talks in Pakistan. However, Iran rejected new peace talks with the US, its state news agency reported.Trump said he would launch new strikes on Iran if it didn't agree to his terms.In domestic news, New Zealand recorded a goods trade surplus of NZ$698 million in March, compared with a deficit of NZ$364.7 million in February, Stats NZ data showed. Goods exports rose 7.3% to NZ$7.94 billion, while imports rose 9.6% to NZ$7.25 billion..New Zealand's first-quarter consumer price index is anticipated to rise by 0.8% quarter on quarter and 2.9% year on year, which is slightly below the Reserve Bank of New Zealand's revised April forecast of 3%, brokerage firm BofA Securities said.In corporate news, Channel Infrastructure (NZE:CHI, ASX:CHI) confirmed an agreement with the New Zealand Government to add 93 million liters of diesel storage at its Marsden Point Energy Precinct, equivalent to around nine more days of national diesel demand.Genesis Energy (NZE:GNE, ASX:GNE) reached a final investment decision on the second stage of its battery energy storage system program at Huntly Power Station on New Zealand's North Island, with an estimated project cost of about NZ$106 million.Lastly, Fletcher Building (NZE:FBU, ASX:FBU) said the planned sale of Fletcher Construction to Vinci Construction has cleared key regulatory approvals in New Zealand, including Overseas Investment Office consent and confirmation from the Commerce Commission that it will not further review the transaction.

New Zealand's Q1 Consumer Price Index Set to Rise, BofA Securities Says

New Zealand's first-quarter consumer price index is anticipated to rise by 0.8% quarter on quarter and 2.9% year on year, which is slightly below the Reserve Bank of New Zealand's revised April forecast of 3%, brokerage firm BofA Securities said in an April 17 report.Headline inflation is driven by soaring fuel prices in March due to the Middle East conflict, with petrol prices surging nearly 19% and diesel by nearly 43% month on month.The Reserve Bank will continue to prioritize medium-term inflation pressures and expectations amid uncertain outlook stemming from the global energy shock, the brokerage firm said.Energy prices are expected to push headline inflation up in the second quarter, but "significant" spare capacity is anticipated to limit second round effects and weigh on non‐tradable inflation, per the report.

NZX Midday Sector Update: Consumer Durables Sector Soars, Consumer Non-Durables Shares Struggle

The consumer durables shares gained the most on New Zealand's Exchange, rising 3% on Monday.Shares of KMD Brands (NZE:KMD, ASX:KMD) rose 3% in recent trade.On the flip side, the consumer non-durables sector struggled, shedding nearly 2%.Fonterra Co-operative Group (NZE:FCG) fell almost 3% in recent trade.

New Zealand Records NZ$698 Million in Goods Trade Surplus in March

New Zealand recorded a goods trade surplus of NZ$698 million in March, compared with a deficit of NZ$364.7 million in February, Stats NZ data showed on Monday.Goods exports rose 7.3% to NZ$7.94 billion, while imports rose 9.6% to NZ$7.25 billion.Exports were driven by a 166% increase in precious metals, jewelry, and coins, while mechanical machinery and equipment recorded the largest drop, declining by 19%.Mechanical machinery and equipment led the increase in imports, rising 31%, while petroleum and products led the decline, falling 30%.In the year ended March, New Zealand recorded an actual annual trade deficit of NZ$3.19 billion, compared with a trade deficit of NZ$6.26 billion in the year ended March 2025.

New Zealand Shares Fall Amid Cautious Trading Ahead of US-Iran Peace Talks; New Zealand King Salmon Investments Lifts Fiscal 2026 Outlook

New Zealand shares ended lower on Friday as most Asian markets saw a sell-off as investors remained cautious despite the Israel-Lebanon ceasefire taking effect ahead of US-Iran peace talks.The S&P/NZX 50 Index fell 1.2% or 160.4 points to close at 12,905.67.US President Donald Trump has said that the next discussions between the US and Iran may take place over the weekend, according to a Thursday Reuters report.In domestic news, New Zealand's electronic card spending rose 1.3% month over month to NZ$9.85 billion in March on a seasonally-adjusted basis, matching the 1.3% increase recorded in the previous month, according to data from Stats NZ.Also, the average asking price for a property in Christchurch in March held steady over the past three years and remained lower than other main centers in New Zealand, data from realestate.co.nz showed.Further, petrol and diesel prices in New Zealand increased by nearly 19% and 43%, respectively, in March compared with the previous month, according to a Stats NZ selected price index report.Meanwhile, annual inflation in New Zealand is expected to slow by 0.2 percentage points in the March quarter to 2.9%, slightly higher than the previous forecast of 2.8% but slightly lower than the Reserve Bank of New Zealand's (RBNZ) April forecast of 3%, ANZ Research said in a note.In corporate news, New Zealand King Salmon Investments (NZE:NZK, ASX:NZK) upgraded its fiscal 2026 guidance, now expecting pro-forma earnings before interest, taxes, depreciation, and amortization of NZ$19 million to NZ$27 million, up from NZ$9 million to NZ$15 million.Contact Energy (NZE:CEN, ASX:CEN) has applied to quote about 5 million ordinary shares issued in connection with its acquisition of an additional stake in King Country Energy.

Annual Inflation in New Zealand Expected to Slow to 2.9% in Q1, ANZ Research Says

Annual inflation in New Zealand is to expected slow by 0.2 percentage points in the March quarter to 2.9%, slightly higher than the previous forecast of 2.8% but slightly lower than the Reserve Bank of New Zealand's (RBNZ) April forecast of 3%, ANZ Research said in a note on Friday.The first quarter consumer price index data, scheduled to be released on April 21, will capture some initial impacts from the Middle East conflict, but inflationary effects will be more pronounced in the second quarter. If the sharp rise in fuel prices are sustained around current levels, the June quarter consumer price index will record a much larger quarterly rise.The bank expects the core inflation indicators to remain within the 1% to 3% target band, with the weighted median, 30% trimmed mean, and ex‑food, fuel and energy measures expected to land within a 0.3% band around 2%.It is reasonable to assume that uncertainty around the medium-term inflation outlook will be the monetary policy committee's main focus in May, ANZ said.

NZX Biggest Gainers

Here are the NZX-listed companies with the biggest gains on Friday.Skellerup Holdings (NZE:SKL): +2.5%, NZ$5.80Auckland International Airport (NZE:AIA): +0.5%, NZ$8.22A2 Milk Co. (NZE:ATM) +0.1%, NZ$9.24