^NZ50

Middle East Conflict Lends Near-Term Support to New Zealand Agricultural Commodity Prices, Westpac Says

The impact of the Middle East conflict will probably be supportive of New Zealand agricultural commodity prices in the short term, but prices could soften under a scenario of prolonged hostilities as product is diverted to markets that already have sufficient supply, Westpac said in a Friday report.The bank expects beef and lamb export prices to stay higher, it said, adding that forecasts for beef also account for the speed of rebuilding for the US beef herd as well as strong US consumer demand for protein.Lamb prices are influenced by limited production in New Zealand and Australia, weak consumption in China, and price resistance in the UK and the European Union, according to the report.Kiwifruit and apple export prices are likely to stay stable or be slightly softer, while log export prices could firm a bit in the near term due to tighter supply, although the upside is restricted by weak construction demand in China, the bank said.New Zealand's agriculture sector is not isolated from the impact of the oil shock, but "it is better placed to navigate the current crisis than most other sectors of the economy and relative to key international competitors," Westpac said.

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

Non-energy minerals stocks gained the most on New Zealand's Exchange, rising 2% at midday Friday.Santana Minerals (NZE:SMI, ASX:SMI) saw the sharpest increase in the sector, gaining more than 10% in recent trade.Meanwhile, the consumer non-durables sector declined by more than 1%.a2 Milk Company (NZE:ATM, ASX:A2M) was down nearly 3% in recent trade.

New Zealand Business Confidence Increases; Remains Lower Than Pre-Middle East Conflict Levels

Business confidence in New Zealand increased by 21 points in May, reaching +10, but still lower than pre-Middle East conflict levels, according to a report by ANZ released on Friday.Expected own activity increased by 6 points to 25.6 from 19.6, while past own activity fell to 14.8 from 16.1, the report said.The net balance of firms reporting increased past activity decreased to 14.8 from 16.9, with agriculture showing growth compared to other sectors.Meanwhile, the net percent of firms reporting higher employment fell to -5.2 from 3, and was lower for every sector.Inflation indicators showed a slight decrease, with inflation expectations falling to 3.6% from 3.8% and pricing intentions dropping to 56.7.Additionally, anticipated price and cost increases have also moderated slightly.While some initial shock has worn off, businesses still face uncertainty as activity indicators remain considerably lower than before the Middle East conflict, per the report.

New Zealand Consumer Confidence Bounces in May, Says ANZ Research

Consumer confidence in New Zealand rose 6 points in May to 86.5, tracking a small uplift, although the index remained 21 points lower than its January peak with Wellington remaining the most downcast region, ANZ Research said Friday.According to the ANZ-Roy Morgan Consumer Confidence Index, inflation expectations fell to 5.3% this month, compared with 6.6% in April, while house price expectations declined 0.7 percentage points to 2.6%.The firm's best retail indicator, which is the net proportion of households thinking it's a good time to buy a major household item, jumped 5 points to negative 20.It said the bounce in consumer confidence is possibly linked to the modest drop in petroleum prices in May, but confidence remains broadly in line with levels seen before the Middle East conflict, as higher petrol prices continue to weigh weekly budgets with ongoing concerns about the broader economic outlook."The outlook for global oil prices remains very clouded, leading to uncertainty around inflation, interest rates and the labor market," analysts at ANZ commented.The firm expects the central bank to return the Official Cash Rate to neutral at around 3% in July.

New Zealand Shares Flat; Bremworth Backs Floorscape Agreement Amid Speculation Over Regulatory Clearance

New Zealand shares ended flat with a negative bias on Thursday as all Asian markets saw a sell-off amid continued hostilities between the US and Iran.The S&P/NZX 50 Index was little changed to close at 13,206.11.The US carried out overnight strikes in Iran targeting a military site and downed four Iranian one-way attack drones deemed a threat near the Strait of Hormuz, according to a Wednesday Reuters report, citing a US official."Over the next 2 weeks, we expect either a deal for a new ceasefire, or the current ceasefire will have collapsed with active hostilities resuming," said Madison Cartwright, a senior geo-economics ​analyst at Commonwealth Bank of Australia, as quoted by Reuters.In domestic news, the seasonally adjusted number of filled jobs across New Zealand industries rose 0.2% month-over-month to 2.4 million in April, following a 0.3% increase in March, data from Stats NZ showed.Also, New Zealand's total number of enterprises rose to 603,354 in April 2026 from 596,721 in April 2025, according to data from stats.govt.nz.In corporate news, Bremworth (NZE:BRW) said it continues to believe that its October 2025 agreement to be acquired by Floorscape represents the best available opportunity to provide value to shareholders.Fonterra Co-operative Group (NZE:FCG) said the opening 2026/27 season forecast farmgate milk price is NZ$9.75 per kilogram of milk solids within a range of NZ$8 to NZ$11.

NZX Midday Sector Update: Transportation Advances, Consumer Durables Fall

Transportation shares gained the most on New Zealand's Exchange, rising past 1% by midday Thursday.Mainfreight (NZE:MFT) gained past 7% in recent trade.The company reported Thursday fiscal 2026 earnings of NZ$2.49 per share, down from NZ$2.72 a year earlier. Analysts polled by FactSet expected earnings of NZ$2.49.Meanwhile, the consumer durables sector fell almost 3%.KMD Brands (NZE:KMD, ASX:KMD) was down nearly 3% in recent trade.

New Zealand Total Yearly Enterprise Count Rises in April

New Zealand's total number of enterprises rose to 603,354 in April 2026 from 596,721 in April 2025, according to data from stats.govt.nz on Thursday.Enterprise entries during April were 8,820 compared to 8,619 last year, while enterprise exits fell to 4,815 from 5,835.The industry with the largest increase in enterprise count was rental, hiring, and real estate services, reaching 128,124 from 123,588 last year.Agriculture, Forestry, and Fishing experienced the largest decline in the number of enterprises, falling to 60,222 from 61,068 in a year.A total of 11 industries recorded an increase in the number over the period, while 8 recorded a decrease.

New Zealand's Filled Jobs Increase 0.2% in April, Stats NZ Says

The seasonally adjusted number of filled jobs across New Zealand industries rose 0.2% month-over-month to 2.4 million in April, following a 0.3% increase in March, data from Stats NZ showed on Tuesday.Filled jobs in the primary, goods-producing, and service industries rose by 0.4%, 0.1%, and 0.2%, respectively.In April, there were 2.4 million actual filled jobs, increasing by 0.5%, or 12,749 jobs, from April 2025.By industry, the largest increase by percentage was in public administration and safety, with filled jobs up 3.4%, or 5,465 jobs, compared with April 2025. The health care and social assistance segment saw filled jobs climb 2%, or by 5,526 jobs over the same period.Meanwhile, total gross earnings rose 2.5%, or NZ$400 million, in April on an accrual basis from the same month in the prior year, while total gross earnings for April came in at NZ$16.1 billion.

New Zealand Shares Rise; Scales Reaffirms 2026 Underlying Net Profit After Tax Guidance

New Zealand shares ended higher on Wednesday as investors digested the Reserve Bank of New Zealand's decision to hold the official cash rate steady.The S&P/NZX 50 Index rose 1.21% or 158.07 points to close at 13,227.81.The Reserve Bank of New Zealand's (RBNZ) monetary policy committee decided to keep the official cash rate steady at 2.25%, according to a statement.Iran said on Tuesday that the US had breached a ceasefire by striking targets near the Strait of Hormuz, potentially complicating efforts to end the war, according to a Tuesday Reuters report.In corporate news, Scales (NZE:SCL) reaffirmed its market guidance of an underlying net profit after tax attributable to shareholders of between NZ$50 million and NZ$55 million for the full year.Air New Zealand (ASX:AIZ, NZE:AIR) informed customers of further flight cuts from August to October amidst a jet fuel crisis in the wake of the conflict in the Middle East, according to a report by Radio New Zealand.

RBNZ Press Conference: Three Different Scenarios Discussed at Monetary Policy Meeting Among Many Different Possible Paths that the Economy Could Take

RBNZ Press Conference: RBNZ Will 'Wait and See' What Finance Minister Nicola Willis Says in Budget on Thursday

RBNZ Press Conference: Even if Middle East Conflict Stops Before Next Meeting, Economic Impacts Will be Feeding through Over Time

RBNZ Press Conference: OCR Would Most Likely Need to Increase Sooner and by More than Projected in February Monetary Policy Statement

RBNZ Press Conference: Governor Anna Breman Voted to Hold Official Cash Rate

RBNZ Press Conference: Three Committee Members Voted to Hold, Three Voted to Lift Official Cash Rate by 25 Basis Points

RBNZ Holds Cash Rate Steady at 2.25%, Inflation Expected to Peak in September Quarter

The Reserve Bank of New Zealand's (RBNZ) monetary policy committee decided to keep the official cash rate steady at 2.25%, according to a Wednesday statement.The Middle East conflict is increasing near-term inflation and weakening economic activity. RBNZ said inflation is expected to peak at 4.3% in the September quarter and to return to the 2% target mid-point in mid-2027. Annual consumers price inflation was 3.1% in the March quarter.Core inflation, wage growth, and medium- to long-term inflation expectations remain consistent with inflation returning to the 2% target mid-point over the medium term. The outlook for medium-term inflation pressures is uncertain, and they could remain elevated if households and businesses expect higher costs in future. However, weak demand and elevated unemployment will dampen medium-term inflation pressures.Business contacts and surveys in New Zealand indicate weaker confidence and spending. Consumer confidence has fallen sharply, and the housing market remains weak.The central bank said the policy rate will most likely need to increase sooner, and the pace of the increases will depend on the relative influence of persistent wage- and price-setting behavior versus weaker economic activity on medium-term inflation pressures.

NZX Midday Sector Update: Consumer Durables Sector Soars, Finance Struggles

The consumer durables shares gained the most on New Zealand's Exchange, rising almost 11% on Wednesday.Shares of KMD Brands (NZE:KMD, ASX:KMD) rose nearly 14% in recent trade.The company on Wednesday reported a 5.2% jump in third-quarter sales, helped by strength in its flagship Kathmandu segment, even as its footwear business Oboz saw a decline amid geopolitical and market tensions.On the flip side, the finance sector struggled, shedding almost 3%.Shares of ANZ Group Holdings (NZE:ANZ, ASX:ANZ) dropped by more than 4% in recent trade.

Reserve Bank of New Zealand Maintains Official Cash Rate at 2.25%

New Zealand Shares Rise; New Zealand King Salmon Investments Reports Profit for Fiscal H1

New Zealand shares ended higher on Tuesday while Asian stocks were mixed amid new US strikes against Iran.The S&P/NZX 50 Index rose 0.77% or 99.46 points to close at 13,069.74.The US on Monday launched strikes on southern Iran on targets including boats allegedly laying mines and missile launch sites, describing the operations as defensive measures, according to a Monday Reuters report."The market wants to believe that it's all going to end soon, because the war not ending is quite bad for the world economy. The world economy's had these buffers of running down inventories, but you can't keep running down inventories," said Commonwealth Bank of Australia Strategist Joseph Capurso, as quoted by Reuters.In domestic news, total new residential mortgage lending in New Zealand fell to NZ$7.99 billion in April from NZ$9.5 billion in March, according to data from the Reserve Bank of New Zealand.In corporate news, New Zealand King Salmon Investments (NZE:NZK, ASX:NZK) reported Tuesday fiscal first-half earnings of NZ$0.03 per share.Radius Residential Care (NZE:RAD) completed its purchase of the Karori care home in Wellington.