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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.

Asia

NZX Midday Sector Update: Producer Manufacturing Rises, Finance Struggles

Producer manufacturing shares gained the most on New Zealand's Exchange, rising past 4% by midday Tuesday.Skellerup Holdings (NZE:SKL) shares rose almost 6% in recent trade.Skellerup on Tuesday increased its fiscal 2026 net profit after tax guidance to between NZ$64 million and NZ$65 million from a previous range of NZ$57 million to NZ$62 million.Meanwhile, the finance sector fell past 1%.Shares of ANZ Group Holdings (NZE:ANZ, ASX:ANZ) dropped by almost 2% in recent trade.

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International

New Zealand Business Confidence Recovers in June Quarter, NZIER Says

New Zealand recorded a recovery in business confidence in the June quarter, with a net 12% of firms forecasting better general economic conditions over the coming months on a seasonally adjusted basis, the New Zealand Institute of Economic Research (NZIER) said in a Tuesday report.The latest result is an improvement from the net 1% of firms that expected an improvement in the previous quarterly survey that was conducted shortly after the start of the Middle East conflict.An easing of fuel prices likely supported the improvement in confidence in the June quarter, but geopolitical conditions in the Middle East continue to be highly volatile, with tensions resurfacing and fuel prices rising in recent weeks, according to the report.Amid this uncertainty, a net 10% of firms reported cutting staff numbers in the June quarter, while a net 1% expect to reduce headcount in the next quarter."The renewed conflict between the US and Iran and heightened uncertainty over the upcoming general election in November will likely further weigh on firms' hiring and investment intentions over the coming months," NZIER said.It added that the June survey points to some continued pessimism in New Zealand's building sector. In contrast, retailers were more optimistic about the outlook and demand in the near-term, while sentiment in the manufacturing sector is neutral.

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Asia

New Zealand Shares Fall; Fonterra Co-operative Group Lowers Farmgate Milk Price Forecast for 2026 to 2027 Season

New Zealand shares ended lower on Monday as most Asian markets struggled after renewed US-Iran hostilities.The S&P/NZX 50 Index fell 0.45% or 62.47 points to close at 13,723.20.The Islamic Revolutionary Guard Corps issued a statement on Sunday declaring the Strait of Hormuz closed, although US CENTCOM said the strait is open to all vessels seeking to lawfully transit the international waterway, according to a Monday report from Reuters.In domestic news, New Zealand's services sector returned to growth in June as activity rebounded, but weak consumer demand and cost pressures continued to weigh on the recovery, according to a statement by BusinessNZ.Also, the pace of increases for supplier costs for food supermarkets in New Zealand was little changed in June, Infometrics said.Further, New Zealand's central bank raised interest rates by 25 basis points to 2.50% at its July meeting, partly to prevent further easing in financial conditions and support the Kiwi dollar, Rabobank said.In corporate news, Fonterra Co-operative Group (NZE:FCG) lowered its forecast farmgate milk price for the 2026 to 2027 season to NZ$9.25 per kilogram of milk solids (kgMS) from NZ$9.75 per kgMS, citing declining prices at recent Global Dairy Trade auctions.Channel Infrastructure (ASX:CHI, NZE:CHI) has sold its fully decommissioned Continuous Catalytic Reforming platformer unit to Integrated Scope Dubai Multi Commodities Centre for $6 million, marking further progress in the redevelopment of its Marsden Point Energy Precinct.

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International

Pace of Rise in New Zealand Food Supermarkets' Supplier Costs in June Little Changed, Infometrics Says

The pace of increases for supplier costs for food supermarkets in New Zealand was little changed in June, Infometrics said in a Monday report.The Infometrics-Foodstuffs New Zealand Grocery Supplier Cost Index showed an average increase of 2.1% from a year earlier."[June saw] the fifth highest number of monthly cost changes since 2018, across a variety of products," said Brad Olsen, Infometrics chief executive and principal economist. "As had been expected, a large number of cost adjustments stemming from conflict in the Middle East have finally landed."Over 6,900 products increased in cost in June month over month from May, with around half directly attributable to fuel adjustments, Olsen said."Larger increases for a number of fruits, fish fillet and shellfish, and fries, hashbrowns, as well as berries saw larger average increases across produce, seafood, and frozen departments, respectively," Olsen added.The majority of the cost increases in June were of a small-to-medium magnitude, with around 6,500 being increases of 0% to 20%.

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Asia

NZX Midday Sector Update: Industrial Services Stocks Rise, Consumer Non-Durables Decline

Industrial services gained the most among New Zealand sectors on Monday, advancing 1%.Ventia Services Group's (NZE:VNT, ASX:VNT) shares gained 1% in recent trade.Meanwhile, consumer non-durables sector shares fell past 2%.a2 Milk Company (NZE:ATM, ASX:A2M) was down past 2% in recent trade.

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New Zealand's Services Sector Returns to Growth After Six-Month Contraction
US Markets

New Zealand's Services Sector Returns to Growth After Six-Month Contraction

New Zealand's services sector expanded in June after six months of contraction, as supplier deliveries and new orders returned to growth.The BusinessNZ Performance of Services Index rose to 50.6 in June from 48 in May, just above the 50-point mark which separates expansion and contraction.Supplier deliveries and new orders were the only two sub-indices with readings above 50, at 51.2 and 53, respectively, while sales, employment, and inventories remained below 50 at 49.3, 48.8, and 49.9, respectively."A return to sustained growth depends on consumer confidence rebuilding, and that is unlikely while cost-of-living pressures remain this prominent," said BusinessNZ's CEO, Katherine Rich.Rich said that the recovery is tentative, unlike the strong bounce seen in the manufacturing sector in June, as households are still focusing their spending on fuel, food, and other essentials.BusinessNZ's report noted that the employment indicator has now been "worryingly" in contraction for 31 consecutive months, which is a substantial headwind to employment growth as services employ many more people than manufacturers.BusinessNZ's head of research, Stephen Toplis, said that while the June result is "hardly a spectacular number," it confirms that the trend in growth before the oil shock is resuming.The BusinessNZ Performance of Composite Index, combining both manufacturing and services, had a "solid lift" in June, rising to 51.2 from 48.4 in May on a Gross Domestic Product-weighted basis and increased to 53.6 from 49.9 on a free-weighted basis.

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International

New Zealand Services Sector Returns to Growth in June

New Zealand's services sector returned to growth in June as activity rebounded, but weak consumer demand and cost pressures continued to weigh on the recovery, according to a statement by BusinessNZ on Monday.The BusinessNZ Performance of Services Index rose to 50.6 in June from 48 in May. A reading above the 50-point mark points to expansion.The services sector has edged back into growth after a prolonged downturn, but the fragile recovery highlights continued pressure on consumer spending as households remain cautious amid persistent cost-of-living pressures, said Katherine Rich, BusinessNZ's chief executive.The activity/sales indicator rose to 49.3 in June from 45.1 in May, while the employment measure inched up to 48.8 from 48.7. Stocks/inventories rose to 49.9 from 47.8, supplier deliveries increased to 51.2 from 49.8, and new orders/business climbed to 53 from 48.2.Economic growth is showing signs of regaining momentum, with improving manufacturing performance suggesting the economy is returning to the recovery path seen before the oil shock and could soon reach growth of around 2%, said Stephen Toplis, BusinessNZ's head of research.The seasonally adjusted BusinessNZ Performance of Composite Index recorded a solid lift in June, with both the manufacturing and services components moving into expansion territory.The gross domestic product-weighted and free-weighted indexes both moved back into expansion in June, rising to 51.2 and 53.6, respectively, from 48.4 and 49.9 in May.

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International

New Zealand Central Bank Lifts Rates to Limit Easing of Conditions, Rabobank Says

New Zealand's central bank raised interest rates by 25 basis points to 2.50% at its July meeting, partly to prevent further easing in financial conditions and support the Kiwi dollar, Rabobank said Thursday.The country's economic activity continued to gain strength through the March quarter, with growth expanding beyond agriculture into goods-producing and services sectors.Business and consumer confidence also improved after the Middle East tensions receded. However, geopolitical risks remain high due to recent strikes and US President Trump's comment that the ceasefire is "over."RaboResearch maintained its outlook that the Reserve Bank of New Zealand will raise the Official Cash Rate three more times by the end of first quarter next year, taking it to 3.25%. This represents a slightly faster pace of rate hikes than the market is currently expecting, the firm added.The Monetary Policy Committee said future interest rates decisions will be guided by how price-setting behavior and excess productive capacity impact medium-term inflation pressures.

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Asia

New Zealand Shares Rise; Fletcher Building Lifts Fiscal 2026 EBIT Guidance

New Zealand shares ended higher on Thursday, trading close to their recently acheived all time highs while investors remained cautious after renewed US-Iran tensions.The S&P/NZX 50 Index rose 0.88% or 120.49 points to close at 13,785.67.The US military said on Wednesday it launched fresh strikes on Iran to keep the Strait of Hormuz open to shipping, prompting Iranian retaliatory attacks on Kuwait and Bahrain in an escalation that threatens to derail efforts to end the conflict, according to a Wednesday Reuters report.The Nasdaq Composite rose 0.2% on close, the S&P 500 lost 0.3%, and the Dow Jones decreased 1.1%.In domestic news, New Zealand's manufacturing sector expanded in June, reaching its strongest reading since the rebound in July 2021 following the pandemic, as positive sentiment returned for the first time in recent months, BusinessNZ said.Also, the Light Traffic Index in New Zealand in June fell 0.5% sequentially and 0.4% year over year due to higher fuel prices, ANZ Research said in a report.Further, borrowing costs in New Zealand are poised to rise further as the country's central bank will likely follow its first rate hike in three years with a sequence of 25-basis-point increases, BNZ Research said.In corporate news, New Zealand Rural Land (NZE:NZL) suspended its 2026 earnings guidance after Kiwi Crunch Farms, a tenant accounting for 5.8% of rental income in its 75%-owned land partnership, entered voluntary administration and receivership.

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International

New Zealand's Official Cash Rate to Peak at 4% by May 2027, BNZ Research Says

Borrowing costs in New Zealand are poised to rise further as the country's central bank will likely follow its first rate hike in three years with a sequence of 25-basis-point increases, BNZ Research said in a Thursday report.The Reserve Bank of New Zealand (RBNZ) on Wednesday raised its official cash rate (OCR) by 25 basis points to 2.5%, citing a need to reduce monetary stimulus as inflation remains above target. The move was broadly in line with analyst forecasts and "almost fully priced by markets," BNZ said.While the RBNZ's latest inflation projections for the June and September quarters were well below the May forecasts due to a recent fall in oil prices, the outlook for medium-term inflation pressures remains uncertain. BNZ expects headline inflation to spike to a peak in the second quarter, with the annual consumer price index forecast to decline through the rest of the year.Additionally, BNZ expects the country's gross domestic product to "contract slightly" in the second quarter, but said a third-quarter recovery "is looking increasingly assured as several indicators point to a pickup in growth momentum."The market research firm anticipates further hikes taking the OCR to a peak of 4% by May 2027. In its core OCR scenario, the cashflow-based fair value estimate for two-year rates is around 3.75%."The retracement in two- and five-year fixed rates over the past month has created an opportunity to top up hedging, with rates likely to move gradually higher through the year," BNZ said.

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International

New Zealand's Light Traffic Index Comes in Lower in June, ANZ Research Says

The Light Traffic Index in New Zealand in June fell 0.5% sequentially and 0.4% year over year due to higher fuel prices, ANZ Research said in a report on Thursday.According to ANZ's Truckometer index, light traffic, including motorbikes, cars, and vans, is generally a good indicator of the state of demand, as opposed to production and it has been noticeably lower in recent months.Meanwhile, the Heavy Traffic Index rose 1.8% on a monthly basis and climbed 1.3% year over year, ANZ said.Heavy traffic data's upward trajectory is intact, ANZ said. It tends to provide a steer on production gross domestic product in real time.

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Asia

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

Non-energy mineral stocks advanced past 3% at midday Monday.Fletcher Building (NZE:FBU, ASX:FBU) shares rose nearly 3% in recent trade.The company on Thursday upgraded its fiscal year 2026 earnings before interest and taxes (EBIT) guidance by around 6.4% to NZ$400 million to NZ$403 million, supported by an estimated NZ$52 million contribution from surplus property sales.Meanwhile, the consumer durables sector fell almost 3%.KMD Brands (NZE:KMD, ASX:KMD) was down nearly 3% in recent trade.

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New Zealand Manufacturing Expands to Near Five-Year High in June
US Markets

New Zealand Manufacturing Expands to Near Five-Year High in June

New Zealand's manufacturing sector recorded a sharp expansion in June, reaching its highest reading since July 2021, as full order books and strong sales outweighed the Middle East conflict and cost-of-living pressures.The latest BusinessNZ Performance of Manufacturing Index for June was 59.7, up significantly from 51.3 in May and the survey's long-term average of 52.5.Under the survey, a reading above 50 indicates an expansion, while a reading below 50 shows a contraction."There are still real headwinds with the conflict in the Middle East and high fuel prices continuing to be a factor for many respondents, but this month's result reflects a huge positive shift after a long stretch of soft results, which is a very welcome turn," said BusinessNZ's Director of Advocacy, Catherine Beard.All subindexes of the survey showed expansion, especially new orders, which rose to 64.1 from 53.2 in May, while production rose to 59.4 from 50.6, and deliveries reached 57.3 from 52.9.New Zealand ranked at the top of J.P. Morgan Global Manufacturing PMI, followed by Japan at 54.8 and the US at 53.9.Bank of New Zealand said that further expansion is needed in July to be convinced of its accuracy, but the lift provides some justification for the Reserve Bank of New Zealand's decision to begin moving the cash rate toward the neutral target.

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International

New Zealand Manufacturing Hits July 2021 High in June, BusinessNZ Says

New Zealand's manufacturing sector expanded in June, reaching its strongest reading since the rebound in July 2021 following the pandemic, as positive sentiment returned for the first time in recent months, BusinessNZ said Thursday.According to the BusinessNZ Performance of Manufacturing Index (PMI), the seasonally adjusted PMI for June rose to 59.7 from 51.3 in May, significantly above the survey's long-term average of 52.5.Headwinds related to the Middle East conflict, high fuel prices and cost-of-living pressure persist. However, these concerns were outweighed by stronger sales, fuller order books and a renewed sense of confidence.Firm expansion was recorded across all sub-indexes, led primarily by new orders at 64.1, indicating a healthy outlook for future work, the firm added.

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Asia Markets

New Zealand Shares Fall; Taiko Critical Minerals Raises NZ$7 Million Through Placement

New Zealand shares ended lower on Tuesday while the country's central bank decided to lift interest rates, and the US and Iran exchanged fresh military strikes.The S&P/NZX 50 Index fell 0.71% or 97.61 points to close at 13,665.18.On Tuesday, the Nasdaq Composite fell 1.2%, the S&P 500 lost 0.5%, and the Dow Jones decreased 0.3%.The Reserve Bank of New Zealand's (RBNZ) monetary policy committee raised the official cash rate (OCR) by 25 basis points to 2.5%, citing the need to continue reducing monetary stimulus as inflation remains above target despite easing global energy price pressures, according to a statement.Iran's Revolutionary Guards said they struck US military sites in Bahrain and Kuwait on Wednesday, following a wave of US military strikes on Iran in response to attacks on tankers in the Strait of Hormuz, according to a Tuesday Reuters report.In domestic news, New Zealand's housing market has become increasingly divided along regional lines in the first half of the year, amid cost-of-living pressures weighing on buyer confidence, QV said.Also, a total of 26,316 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 25,081 to 30,737 MT, according to data from the trading platform.In corporate news, Taiko Critical Minerals (NZE:TCM) has secured NZ$7 million through a placement to wholesale investors, issuing around 28 million new shares at NZ$0.25 each.

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International

New Zealand Central Bank to Hike Rate Again at Next Two Meetings, ANZ Says

The Reserve Bank of New Zealand's (RBNZ) consensus decision to raise its official cash rate to 2.5% was in line with expectations, and further increases to borrowing costs are likely before the end of the year, ANZ said in a Wednesday report.In raising the rate by 25 basis points, the central bank pointed to a continuing need to reduce monetary stimulus as inflation remains above target, warning that the lingering impact of the energy shock could keep the medium-term inflation outlook uncertain.The RBNZ offered little urgency in its forward guidance, which is "consistent with our view that there was little to be gained from providing very strong guidance in such uncertain times," ANZ said.ANZ still expects rate hikes at the central bank's next two meetings in September and October, which would take the rate to 3%, as New Zealand's economic upswing becomes more entrenched."We are optimistic that the economy will get back on track before long," ANZ said, adding that the economy doesn't need stimulatory monetary policy any more as "the underlying story is now a much more cheerful one" compared with the peak of the oil price shock.

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New Zealand's Central Bank Raises Interest Rate, Says More Lifts Likely
US Markets

New Zealand's Central Bank Raises Interest Rate, Says More Lifts Likely

The Reserve Bank of New Zealand on Wednesday decided to increase interest rates by 25 basis points, saying inflation remains elevated despite an improved near-term outlook.The bank's Monetary Policy Committee reached a consensus to lift the Official Cash Rate to 2.5% in order to reduce monetary stimulus to ensure that inflation returns to target over the medium term.The committee had mixed views on the medium-term inflation outlook, as two members assessed risks as skewed to the upside, while four members viewed them as broadly balanced.RBNZ's near-term inflation forecast has declined as it expects annual headline inflation to peak at 3.9% in the June quarter, before falling to 3.3% in the September quarter, reflecting smaller direct price effects due to the lower price of oil.Annual headline inflation is expected to return to the target mid-point in mid-2027, the central bank added.The committee agreed that further rate increases are possible at future meetings, but that the timing might be "highly uncertain," and upcoming decisions will depend on how price-setting and excess capacity affect inflation pressures in the medium-term.ANZ said the rate lift was within expectations and continues to expect that September and October meetings will take the OCR to 3%, while Westpac, which expected a hold decision, said September and December meetings are expected to carry a 25 basis point lift each, and the OCR will peak at 4% in September 2027.

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Japan

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

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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International

Card Spending in New Zealand Largely Flat in June, ANZ Says

Card spending in New Zealand was largely flat in June, with just a slight 0.1% seasonally adjusted increase from the previous month, although annual growth rose by a full percentage point to 5.8%, ANZ said in a Monday report.Card spending in the hospitality sector fell 2.2% in June after rising 3.5% in the previous month, while housing durables also fell. Those declines were offset by a lift in tourism and recreation, services, and non-retail trades and goods, according to the report.Meanwhile, card spending on motor vehicles and fuel slid 0.9% month over month as fuel prices continued to retreat, with spending at fuel, charging, and service stations falling 1.2% in June.ANZ also reported "a sharp rise" in card spending on industrial supplies, but noted that this increase likely reflects higher prices as opposed to volume growth, as these goods are largely imported, and some of them are directly impacted by oil prices.

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Asia

New Zealand Shares Hit All-Time High; Bremworth Says Largest Shareholder to Vote Against Floorscape Deal

New Zealand shares rose to an all-time high on Monday, while Asian shares remained mixed, starting the week with slight caution as the world awaits a peace deal between the US and Iran.The S&P/NZX 50 Index rose 1.07% or 144.68 points to close at 13,763.10.OPEC+ will raise output quotas by 188,000 barrels per day from August, adding further supply to global markets already under pressure from falling oil prices as the Strait of Hormuz gradually reopens to oil exports, Reuters reported on Sunday.In domestic news, New Zealand's total new lending increased to NZ$16.19 billion in May from NZ$14.17 billion in April, according to data from the Reserve Bank of New Zealand.Also, household savings in New Zealand rose by NZ$2 billion in the March quarter, with a related increase in the value of New Zealanders' financial assets to 3.3% over the past year, offsetting softness in the value of housing and land assets, Westpac said in a report.In corporate news, Bremworth (NZE:BRW) said shareholder David Ferrier and associated investors, who collectively hold a 19.413% stake in the company, have indicated that they intend to vote against the proposed scheme of arrangement with Floorscape.Infratil (NZE:IFT, ASX:IFT) said the independent valuation of its roughly 49.7% stake in CDC Data Centres has increased to AU$9.21 billion from AU$7.45 billion as of March 31.

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