407 stories mentioning S&P/NZX 50 IndexUpdated 23h ago
Trading amid soft New Zealand data pointing to downside CPI risks; miscellaneous shares rose while communications stocks lagged.
Here are the NZX-listed companies with the biggest losses on Friday.Mercury NZ (NZE:MCY): -1%, NZ$6.60Freightways Group (NZE:FRW): -1%, NZ$12.28Infratil (NZE:IFT): -1%, NZ$12.03Contact Energy (NZE:CEN): -1%, NZ$9.39Meridian Energy (NZE:MEL): -0.7%, NZ$5.66Summerset Group Holdings (NZE:SUM) -0.5%, NZ$8.55Port of Tauranga (NZE:POT): -0.5%, NZ$7.93Fisher & Paykel Healthcare (NZE:FPI): -0.3%, NZ$38.36
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 on Friday.The average asking price for a property was NZ$715,039, up 1.6% from March 2025 and more than NZ$150,000 under the national average asking price of NZ$887,162.The price gap could make Christchurch the most accessible major center for property seekers in the country, Vanessa Williams, spokesperson for realestate.co.nz, said.The average asking price in Auckland was just over NZ$1.2 million in March, while Wellington's was NZ$904,333, the report said.
Here are the most actively traded stocks on New Zealand's Exchange on Friday.Kiwi Property Group (NZE:KPG): 2.3 million sharesArgosy Property (NZE:ARG): 1.6 million sharesSpark New Zealand (NZE:SPK): 1.2 million sharesFletcher Building (NZE:FBU): 908,737 sharesOceania Healthcare (NZE:OCA): 845,665 shares
Producer manufacturing shares gained the most on New Zealand's Exchange, rising past 1% by midday Friday.Shares of Scott Technology (NZE:SCT) were up past 2% in recent trade.Meanwhile, shares of the non-energy minerals sector fell over 2%.Santana Minerals (NZE:SMI, ASX:SMI) was down past 3% in recent trade.
Higher spending on fuel drove an overall lift in New Zealand electronic retail card spending in March, Westpac said in a Friday report, noting that the month's 0.7% increase in retail spending came in slightly above its 0.5% forecast."Unsurprisingly, with petrol prices surging almost 19% during the month, spending on fuel increased over 17%," the bank said.Core spending, which excludes fuel and vehicles, declined by a modest 0.1% month over month, while higher spending on consumables and durables was more than offset by a fall in the hospitality and apparel store categories, Westpac said.The March results mean retail spending during the first quarter ticked 1% higher, marking the strongest quarter since the three months through December 2024, it added.Westpac expects elevated fuel prices to continue to strain household budgets at least in the near term, and the bank also continues to anticipate a slight decline in consumer spending volumes in the current quarter, even as higher prices sustain the value of spending.
The Reserve Bank of New Zealand (RBNZ) is expected to lift the official cash rate (OCR) three times this year, starting in July, with the OCR reaching 4% by mid-2027 and as high as 4.5% in the first half of 2028, said Infometrics in a Friday report.Infometrics predicts that higher fuel prices will drive inflation to 4.8% per year in the second quarter, an immediate outcome of the Middle East conflict that the RBNZ can do little about.The economic forecaster added that even if fuel prices moderate in the second half of the year, inflation is still expected to be at 3.9% per year in March 2027 and 3% by December 2027, with second-round effects from the fuel price spike rippling across the economy for several quarters."We now expect household spending to grow just 0.8% this year, a full two percentage points slower than our pre-conflict forecasts," said Gareth Kiernan Infometrics chief forecaster.Infometrics said that gross domestic product is now expected to grow by 1.3%, down from the previous expectation of 2.5%, assuming no serious or prolonged disruption to New Zealand's fuel availability, but added that the government's Fuel Response Plan may be elevated to phase 2 or 3 at some stage.Kiernan said household spending is now expected to grow just 0.8% this year, 2 percentage points lower than previously expected.
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 indexes report on Friday.The rises in petrol and diesel prices in March were the largest since Stats NZ began publishing monthly vehicle fuel price data in July 2011, following declines in both fuels in January and February.Food prices fell 0.6% in March compared with the previous month, driven mainly by a 2.9% drop in fruit and vegetables and a 0.8% decline in grocery food, with kiwifruit, chocolate blocks, cheddar cheese, and beef mince contributing most to the decrease.Domestic airfares decreased by around 14% in March, while international airfares increased by 3.5% compared with February."Travelers typically book and pay for airfares in advance, so price changes reflect fares that were set up to 12 months ago," said prices and deflators spokesperson Nicola Growden.Food prices increased by 3.4% on an annual basis in March, compared with a 4.5% increase in the 12 months to February, mainly due to a 7.3% rise in meat, poultry, and fish prices and a 2.8% increase in restaurant and ready-to-eat meals.Petrol and diesel prices both increased over the 12 months to March, rising by nearly 14% and 37%, respectively.
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 on Friday.Retail spending rose 0.7% to NZ$7.08 billion, following a 1.4% increase in February.Core retail spending, which comprises consumables, durables, hospitality, and apparel, fell 0.1% to NZ$6.36 billion, following a 1.7% increase in the previous month.Services spending via electronic cards rose 0.1% to NZ$400 million, compared with a 0.4% decrease in the prior month. Excluding services, spending in non-retail industries rose 2.5% to NZ$2.39 billion, following a 2% increase in the previous month.
New Zealand shares ended flat on Thursday, while most Asian markets saw gains as investors saw growing optimism around US-Iran peace talks after Israel discussed a possible ceasefire against Lebanon.The S&P/NZX 50 Index was little changed to close at 13,066.06.On Wednesday, the Nasdaq Composite added 1.6%, the S&P 500 gained 0.8%, and the Dow Jones fell 0.2%.Israel's security cabinet met on Wednesday to consider a potential ceasefire in Lebanon, according to a Wednesday Reuters report, citing a senior Israeli official."As we move into the heart of earnings season, the focus is shifting back toward fundamentals, with a more idiosyncratic, stock-driven environment beginning to take hold," said Scott Rubner, head of equity and equity derivatives strategy at Citadel Securities, as quoted by Reuters in a separate report.In domestic news, New Zealand's nationwide housing market value rose by 0.2% year-on-year in March, with Auckland down 1.2% and areas outside Auckland seeing a modest 1.1% rise, Real Estate Institute of New Zealand (REINZ) said.Also, Businesses in New Zealand say they are experiencing considerable disruptions due to the Middle East conflict and the resulting surge in oil prices, Westpac said in a report.In corporate news, Contact Energy (ASX:CEN, NZE:CEN) said retail mass-market electricity and gas sales increased year on year in March, alongside a rise in wholesale contracted electricity sales.Fletcher Building (ASX:FBU, NZE:FBU) reported modest improvements in key product volumes for the fiscal third quarter, with gains in light building products and distribution partially offset by continued weakness in heavy materials and residential activity.
Industrial services gained the most among New Zealand sectors on Thursday, advancing nearly 2%.Ventia Services Group (NZE:VNT, ASX:VNT) gained nearly 2% in recent trade.On the other hand, consumer durables shares dropped past 1%.KMD Brands (NZE:KMD, ASX:KMD) shares slid past 1% in recent trade
Businesses in New Zealand say they are experiencing considerable disruptions due to the Middle East conflict and the resulting surge in oil prices, Westpac said in a report on Thursday.Much of the momentum observed in economic activity before the war broke out has now stalled, and cost pressures and uncertainty have surged over the past month, according to the report."The impacts of those developments are extending well beyond transport costs, resulting in softer demand, concerns about supply security and increased economic uncertainty," the bank said. "That's on top of the broader pressure on operating costs, prices, and margins."For many industries experiencing sharply higher fuel costs, including transport services, construction materials, forestry, and agriculture, it is currently difficult to pass cost increases on to customers due to a combination of complex pricing arrangements and soft demand, the report said.Fertilizer importers have pointed to a material escalation in supply chain risk amid the conflict's impact on insured shipping capacity, and similar worries are emerging in meat exports, feed imports, and log shipping, "where two-way freight economics are breaking down," the bank said.Westpac flagged forestry as particularly vulnerable, with many operators anticipating a sharp slowdown in harvesting, especially among small to medium-sized crews.Meanwhile, tourism businesses are reporting cancellations and restaurants are reporting a drop in sales as uncertainty generated by the war is driving conservative consumer behavior and a focus on cash preservation, Westpac said.
New Zealand's nationwide housing market value rose by 0.2% year-on-year in March, with Auckland down 1.2% and areas outside Auckland seeing a modest 1.1% rise, Real Estate Institute of New Zealand (REINZ) said on Thursday.According to the REINZ House Price Index (HPI), Southland retained the top spot for annual HPI percentage growth over the 12 months, followed by Canterbury and Otago.Canterbury saw a 3.2% year-on-year increase in median sale prices in March, the seventh-strongest annual return among all regions, indicating a market with relatively "middle of the road" long-term performance.However, Canterbury's HPI rose 3.7% over the past year, marking the region's second-best annual performance, with REINZ attributing the difference from median prices to changes in the sales mix and noting that the HPI more accurately reflects underlying property values.
New Zealand shares ended higher on Wednesday as most Asian markets saw gains amid hopes of continued US-Iran peace talks.The S&P/NZX 50 Index gained 0.46% or 59.32 points to close at 13,076.58.Peace talks to end the US-Iran war could resume over the next two days in Pakistan, said US President Donald Trump on Tuesday, according to a Tuesday Reuters report."The impressive price action in risk assets suggests markets are keen to look through the immediate impact of the Middle East conflict," said Tony Sycamore, an analyst at IG, as quoted by Reuters in a separate report.In domestic news, a total of 2,869 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) pulse auction held Tuesday, with supply ranging from 2,550 MT to 3,000 MT, according to data from the trading platform.In corporate news, Chorus (ASX:CNU) said fibre connections grew by 13,000 in the fiscal third quarter to 1.1 million, up from a gain of 7,000 in the fiscal second quarter.Ryman Healthcare (ASX:RYM, NZE:RYM) reported 331 occupation right agreement (ORA) sales in the fiscal fourth quarter, up 10% from 302 a year earlier.
The consumer durables shares gained the most on New Zealand's Exchange, rising almost 2% on Wednesday.Shares of KMD Brands (NZE:KMD, ASX:KMD) rose nearly 2% in recent trade.On the flip side, the industrial services sector struggled, shedding nearly 2%.Ventia Services Group (NZE:VNT, ASX:VNT) shares fell almost 2% in recent trade.
A total of 2,869 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) pulse auction held Tuesday, with supply ranging from 2,550 MT to 3,000 MT, according to data from the trading platform.The average selling price for anhydrous milk fat was $6,922 per MT, butter averaged $5,950 per MT, and skim milk powder and whole milk powder averaged at $3,318 per MT and $3,621 per MT, respectively.
New Zealand shares ended flat on Tuesday while most Asian stocks saw gains as investors hope for a US-Iran peace agreement.The S&P/NZX 50 Index was little changed to close at 13,017.26.Dialogue between the US and Iran is "still alive," even after the failed negotiations that took place in Islamabad, Pakistan, according to a Monday Reuters report, citing sources familiar with the matter.Also, US President Donald Trump said on Monday that Iran "called this morning" and wants to make a deal, but he will not agree to an agreement that does not forbid Iran from having a nuclear weapon, according to a Monday Reuters report."The failed weekend talks did not produce a deal, but they also did not close the door on diplomacy, and that is enough for equities to keep pushing higher for now," said Charu Chanana, Saxo's chief investment strategist, as quoted by Reuters in a separate report.In domestic news, the share of first home buyers' property purchases in New Zealand in the March quarter was over 27%, buoyed by lower house prices, reduced mortgage rates, and policy measures, Cotality said.In corporate news, Winton Land (NZE:WIN, ASX:WTN) received conditional approval from the expert panel for the Ayrburn Screen Hub under the Fast-track Approvals Act, with the decision now subject to a 20 working day appeal period.Westpac Banking (NZE:WBC, ASX:WBC) will boost credit provisions for customers in energy-intensive sectors due to the volatility and economic uncertainty created by the Middle East conflict.
The share of first home buyers' property purchases in New Zealand in the March quarter was over 27%, buoyed by lower house prices, reduced mortgage rates, and policy measures, Cotality said in a Tuesday report.More than half of first home buyer loans over January and February were done at less than 20% equity, according to figures from the central bank.First home buyers' share of property purchases in the wider Wellington area was 37% during the period, while it was 33% in Hamilton.Mortgaged multiple property owners' share of property purchases increased back to around 24%, roughly in line with their long-term average. The shift back to 100% deductibility for interest costs supported this increase.Relocating owner-occupiers accounted for around 26% of property purchases in the first quarter, below their average of around 28%.However, the conflict in the Middle East has put an extra layer of uncertainty over a potential economic recovery, as well as the housing market outlook, the report cautioned. Property values this year may now be closer to flat, or even slightly down again, rather than a modest gain of up to 5%.
Distribution services shares gained the most on New Zealand's Exchange, rising almost 2% by midday Tuesday.Shares of Vulcan Steel (NZE:VSL, ASX:VSL) rose nearly 2% in recent trade.Meanwhile, the finance sector fell 1%.Westpac Banking (NZE:WBC, ASX:WBC) was down almost 2% in recent trade.
New Zealand's services sector further shrank in March as the impact of the Middle East conflict was felt across business sectors.The BusinessNZ Performance of Services Index dropped to 46.0 from 47.6 in February, according to a Monday press release from BusinessNZ."The services sector in New Zealand is clearly feeling the effects of the conflict in Iran," BusinessNZ Chief Executive Officer Katherine Rich said. "The industries that deal mainly in discretionary spending have been especially impacted, and this is likely to reflect a lack of consumer confidence."The sectors involved in discretionary spending are accommodation, cafes and restaurants, and cultural and recreational services.Travel and airlines are also affected as the U.S.-Iran conflict triggered oil price shocks, especially at the closure of the Strait of Hormuz, the world's most critical oil passageway. Earlier this month, Air New Zealand (NZE:AIR, ASX:AIZ) said it will make minor adjustments to about 4% of its May and June flights due to rising jet fuel costs.All of the five sub-indexes are below the neutral reading of 50, with activities and sales the weakest at 44.6, BNZ said.The war in Iran also widened the pessimism among survey respondents as negative comments grew to 69.1% in March from 56.4% in the previous month. The response indicated that the economy could soon be contracting, BNZ's head of research, Stephen Toplis, said.The war is expected to bring more pressure on inflation, especially as the U.S. and Iran could not reach a deal during the two-week ceasefire. President Donald Trump ordered a blockade at the Strait of Hormuz as talks between the two countries crumbled.Analysts from ANZ expect that the inevitable rise in inflation could prompt three straight interest rate hikes this year. The bank predicts that the Reserve Bank of New Zealand is likely to add 25 basis points in its monetary policy in July, September and October, bringing the official cash rate to 3%.Westpac also expects the RBNZ to add 25 basis points until the OCR reaches 3.5%."We continue to believe that the same shape of the latter part of the interest rate cycle where the OCR rises above our assessment of neutral (which remains at 3.75%), peaking at 4.25% in December 2027 and remaining at 4.25% through 2028 before returning to 3.75% in 2029," Westpac's chief economist for New Zealand, Kelly Eckhold, said.
For the week ahead in Asia, markets will be focused on a slate of monthly data that will help investors assess how the Middle East conflict is feeding into economic conditions across the region.The week opens Monday with New Zealand's services sector survey and India's March inflation print, as well as a scheduled speech by the Bank of Japan's governor that could offer clues on the timing of a possible rate hike.Attention then shifts Tuesday to China's trade figures and a monetary policy decision in Singapore, alongside business and consumer confidence readings from Australia and industrial production data from Japan.Midweek brings trade and labor market data from India and South Korea, while Thursday is headlined by China's first-quarter GDP report and a broad batch of activity indicators.Friday rounds off the week with Malaysia's preliminary first-quarter GDP and inflation data, as well as Singapore's March trade numbers, including non-oil exports.Here's what to watch in the week ahead.MONDAY, April 13The week kicked off with a report indicating New Zealand's services sector shrank for the third consecutive month as the conflict in the Middle East impacted consumer confidence.The BusinessNZ Performance of Services Index for March came in at 46.0, down 1.6 points from February and 6.6 points lower than the long-term average of 52.8."So poor was the PSI reading that our combined PMI/PSI indicator is suggesting the economy could soon be contracting," said Stephen Toplis, BNZ's head of research.Outside of New Zealand, markets will be on the look out for India's March inflation print.A consensus compiled by Trading Economics indicated that the pace of price increase may have quickened during the month to around 3.5% year on year from the 3.2% recorded in February.The March print will give observers the first real look on how the Indian economy is faring after war broke out in the Middle East.While overall inflation is expected to rise, core inflation--which excludes the impact of some items--is likely to clock in at below 4%, giving the Reserve Bank of India room to shy away from a hawkish stance near term, economists at DBS said, the Wall Street Journal reported.Meanwhile, markets will also be closely following a scheduled speech by Bank of Japan Governor Kazuo Ueda on the possible timing of a rate hike. The central bank is reportedly considering a rate hike this month to counter price pressures from the Iran war.Elsewhere, Indonesia reported a 6.5% annual rise in retail sales during February, quickening from the 5.7% growth witnessed a month prior.TUESDAY, April 14China's trade figures will capture headlines Tuesday.The world's second-largest economy could report a trade surplus of $112 billion in March, higher than the $91 billion captured in February, according to a consensus compiled by Trading Economics.Despite the rising surplus, economists at ING said they expect March export growth to moderate from the figures seen in the first two months of the year.A monetary policy decision and an advance estimate of GDP growth in the first quarter is expected in Singapore.Unlike other economies, Singapore tweaks its currency exchange rate rather than its domestic interest rates to control inflation. While the Monetary Authority of Singapore has not adjusted its policy since April 2025, it is now expected to tighten the valves in response to the Middle East conflict, according to a survey of economists compiled by Bloomberg, CNA Digital reported.Meanwhile, Singapore's economy likely slowed during the first three months of the year due to a pullback in manufacturing activity, the WSJ reported, citing Barclays economists.The city-state's economy expanded 6.9% year-on-year in the final quarter of 2025 and by 5% during the entirety of the year.In January, the city-state had upgraded its 2026 forecast to a range of 2% to 4%, with growth outlook raised to 3%. However, Deputy Prime Minister Gan Kim Yong said in March the government will reassess its GDP forecast following the U.S.-Israeli attack on Iran.A pair of reports covering business and consumer confidence in Australia are expected.Consumer confidence was near the bottom of its 18-month range in March, and the April survey was shaping up for a bigger drop as consumers reckoned with the implications of the conflict in the Middle East, the National Australia Bank said in a preview.Meanwhile, the March business confidence report should capture the flow through impacts from the energy crisis and higher borrowing costs in Australia, Westpac said."Widespread supply disruptions and soaring energy costs are likely to be reflected in higher business input and output costs," the firm said in a note.Japan's industrial production stats will also be in focus on Tuesday, while India will release wholesale price inflation data the same day.WEDNESDAY, April 15A slew of macro data from India and South Korea will be in the news Wednesday.India will report its trade figures for March which could show a widening of the trade deficit to $32.75 billion from $27.1 billion in the month prior, according to a consensus compiled by Trading Economics.Labor data, due the same day, could show unemployment climbed to 5.1% from 4.9% in February, according to another Trading Economics consensus estimate.South Korea will similarly report March labor data and export and import prices.Unemployment in South Korea has been on a downward trajectory since December when it stood at 3.3%. The most recent reading was of 2.9%.Japan's machinery orders stats are also scheduled for release Wednesday.THURSDAY, April 16Markets will turn their attention to a flurry of data coming in from China, including the closely watched GDP growth rate for the first quarter of the year.Analysts place China's Q1 GDP growth rate at 4.9% year on year, rising from the 4.5% recorded in the closing months of 2025, the WSJ reported. Economists at DBS attributed the expected rise in growth to a jump in overseas demand for Chinese goods, the WSJ added.The GDP release will be accompanied by China's house price index, offering an insight into new home prices across 70 cities that markets use as a benchmark. New prices are expected to stay in negative territory, though any moderation would be viewed positively, economists at ING said.Additional releases will include China's industrial production data, retail sales figures, and unemployment stats."Other than industrial production, which we expect to grow around 5.5% YoY, economic activity data is likely to remain rather soft in March," ING said in a preview.Labor data from Australia is also expected Thursday.The National Australia Bank expects the jobless rate to stay at 4.3%, with employment rising by 25,000. "While the survey period captures the escalation in the Middle East conflict, it is likely too early to see a response to this reflected in the data," NAB said in a note.The Reuters Tankan Index for April, a key gauge of Japanese business confidence, will be due the same day.FRIDAY, April 17The week rounds off with Malaysia's preliminary GDP growth rate figures for the first quarter of the year.Economists at ANZ expect first-quarter growth to ease to 5.3% from the 6.3% recorded in the final quarter of 2025, the WSJ reported. Despite stronger agriculture output, the Malaysian economy saw industrial and retail activity moderate during the opening months of 2026, the report said, citing ANZ.Malaysia's inflation data is also expected Friday, with Trading Economics forecasting the pace of price increase to quicken to 1.8% year on year from the 1.4% recorded in February.Singapore reports March trade data, including non-oil exports, the same day.
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