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407 stories mentioning S&P/NZX 50 IndexUpdated 22h ago

Trading amid soft New Zealand data pointing to downside CPI risks; miscellaneous shares rose while communications stocks lagged.

Asia

New Zealand Shares Fall Amid Failed US-Iran Peace Talks; Fonterra Co-operative Group Implements Over NZ$3 Billion Capital Return

New Zealand shares closed lower on Monday as all Asian markets saw losses after peace talks between the US and Iran failed during the weekend.The S&P/NZX 50 Index fell 1.22% or 161.26 points to close at 13,020.18.US President Donald Trump warned on social media that the US Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz after a failed talk with Iran.The US military said it will begin a ​blockade of all maritime traffic entering and exiting Iranian ports and coastal areas on Monday."The market is now largely back to conditions before the ceasefire, except ​now the US will block the remaining up to (2 million barrels) Iranian-linked flows through the Strait of Hormuz as well," said MST Marquee analyst Saul Kavonic, as quoted by Reuters."The key remaining question is if the US renews strikes on Iran, raising the risk of strikes on energy infrastructure across the region, which could have a further ​lasting impact beyond the duration of the war," Kavonic added.In domestic news, the Reserve Bank of New Zealand (RBNZ) is now expected to consecutively increase the official cash rate three times by 25 basis points in July, September, and October, taking the policy rate to 3%, according to a report by ANZ.Also, New Zealand's fuel spending jumped a massive 15% month-on-month in March as prices surged, siphoning a large amount of cash from households' wallets and weighing on spending in other areas, said Westpac.Further, New Zealand's services sector shrank in March, posting its third consecutive monthly decline as the conflict in the Middle East impacted consumer confidence, with discretionary spending hit particularly hard, BusinessNZ said.In corporate news, Fonterra Co-operative Group's (NZE:FCG) roughly NZ$3.2 billion capital return to shareholders was implemented on April 10.Synlait Milk (NZE:SML, ASX:SM1) said it implemented enhanced testing earlier this year for all infant formula products, which resulted in extended release times and also had an impact on working capital requirements.

^NZ50ASX:A2MASX:SM1NZE:ATMNZE:FCGNZE:SML
International

ANZ Expects RBNZ to Take Official Cash Rate to 3% With Hikes in July, September, and October

The Reserve Bank of New Zealand (RBNZ) is now expected to consecutively increase the official cash rate three times by 25 basis points in July, September, and October, taking the policy rate to 3%, according to a Monday report by ANZ Research.The central bank is likely to decide that the risks of conducting rate hikes later outweigh the risks of increasing too soon as long as the official cash rate is not considered contractionary.The analysts noted that it was possible the subsequent monetary policy decision could be a rate cut, or that the official cash rate "doesn't even make it as far as 3%."The outlook for oil prices and fuel supply is highly uncertain; meanwhile, the impact on medium-term inflation is ambiguous. Both the demand and the supply side of the economy are in flux.

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International

New Zealand's March Fuel Spending Up 15%, Says Westpac

New Zealand's fuel spending jumped a massive 15% month-on-month in March as prices surged, siphoning a large amount of cash from households' wallets and weighing on spending in other areas, said Westpac in a Monday report.The bank also reported a 0.7% rise in grocery purchases with households stocking up on essentials, as the Middle East conflict stoked concerns about shortages and cost increases.The bank said that cost-of-living pressures, combined with nervousness about the economic outlook, have seen many households winding back their discretionary spending.Westpac said it saw a 2% decrease in spending on takeaways and in restaurants as dining out is often the first thing households cut when fuel or other living costs rise, and it could be a tough few months for the hospitality sector.The bank added that spending levels are still above those seen in March 2025, but expects spending growth to remain muted over the coming months.Westpac believes that there is a long way to go before the resulting disruptions to fuel supply and global supply chains will dissipate.

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Asia

NZX Midday Sector Update: Non-Energy Mineral Stocks Jump, Consumer Non-Durables Struggle

Non-energy mineral stocks advanced more than 1% at midday Monday.Fletcher Building (NZE:FBU, ASX:FBU) shares rose past 2% in recent trade.On the flip side, the consumer non-durables sector struggled, shedding past 20%.Fonterra Co-operative Group (NZE:FCG) fell almost 28% after the company's roughly NZ$3.2 billion capital return to shareholders was implemented on April 10.

^NZ50ASX:FBUNZE:FBUNZE:FCG
International

New Zealand's Services Sector Contracts Again in March; Outlook Bleak, BusinessNZ Says

New Zealand's services sector shrank in March, posting its third consecutive monthly decline as the conflict in the Middle East impacted consumer confidence, with discretionary spending hit particularly hard, BusinessNZ said in a Monday report.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. "While we are not forecasting a recession, these data support our recent decision to significantly downgrade our growth expectations for 2026."All five of the sub-indices returned readings lower than 50.0. The slump in new orders to 45.7 from 48.8 and in activity to 44.6 from 47.5 is "particularly worrisome," according to BusinessNZ.Further sub-50 outcomes could be on the cards as retail trade and accommodation, cafes, and restaurants will take a hit from the inflation-driven decline in real disposable incomes."The weak PSI report is also consistent with our view that there is unlikely to be any real improvement in the labor market in the year ahead," Toplis said. "Looking forward, it's hard to imagine things improving quickly for many of the industries within the services sector."

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Asia Markets

New Zealand Shares Fall Amid Ceasefire Doubts After Israeli Attack on Lebanon; Kiwi Property Group Appoints CFO

New Zealand shares closed lower on Friday as investors remain worried about the durability of the Iran-US ceasefire after Israel attacked Lebanon.The S&P/NZX 50 Index fell 0.7% or 92.37 points to close at 13,181.44."The US-Iran ceasefire led to a sharp recovery in Asian markets, but the risk-on sentiment got ​tested yesterday," said Rupal Agarwal, Asia quant strategist at Bernstein in Singapore, as quoted by Reuters."We believe this could be the beginning ⁠of the end and is presenting an opportunity for investors to focus on pre-war trends and fundamentals. We recommend adding back ​some beaten-down names," Agarwal added.In domestic news, the average weekly rent in March across Auckland for properties with over five bedrooms came in at about NZ$1,030, down 0.2% year over year, according to data from Barfoot & Thompson.Also, the fuel price in New Zealand is driven by a mix of global and domestic factors, including the price of crude oil in US dollars, refining margins, international freight, insurance costs, the New Zealand dollar exchange rate, as well as the cost of distributing fuel around the country, and other wholesaler and retailer costs and margins, ANZ Research saidFurther, New Zealand's manufacturing sector continued to expand in March, but momentum eased as sentiment weakened, with firms increasingly citing global uncertainty, including the war in Iran, as a growing headwind, BusinessNZ said.In corporate news, Kiwii Property Group (NZE:KPG) appointed Sarah Theodore as chief financial officer, effective late July.PaySauce's (NZE:PYS) annual recurring revenue (ARR) rose 6% year on year to NZ$8.9 million in the fiscal fourth quarter.

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Japan

NZX Midday Sector Update: Commercial Services Advance, Technology Services Decline

Commercial services shares gained the most on the New Zealand Exchange, rising 1% by midday Friday.PGG Wrightson (NZE:PGW) gained more than 1% in recent trade.Meanwhile, technology services shares fell past 2%.Westpac Banking (NZE:WBC, ASX:WBC) was down almost 4% in recent trade.

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