^NZ50

New Zealand Shares Retreat; Fletcher Building Unit to Sell Cheltenham Property to Forza Capital

New Zealand shares closed lower on Friday as doubts lingered around a US-Iran peace deal amid attacks in the Persian Gulf.The S&P/NZX 50 Index fell 0.6% or 80.07 points to close at 13,190.54.US President Donald Trump said that the ceasefire between Iran and the US was still in effect despite clashes between the forces of the two countries. Iran said the situation had returned to normal, according to a Reuters report. Brent crude oil futures rose 1.3% to $101.60 per barrel.In domestic news, first home buyers in New Zealand represented 27.5% of property purchases across the country in the first quarter, slightly lower than the 28.2% record high in the fourth quarter of 2025, according to a Cotality-Westpac report.New Zealand's total new lending increased to NZ$15.13 billion in March from NZ$11.05 billion in February, according to data from the Reserve Bank of New Zealand. New lending fully secured by residential mortgage rose to NZ$8.68 billion in March from NZ$6.99 billion in the previous month.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) said its Laminex Australia division has conditionally agreed to sell its Cheltenham, Melbourne property to Forza Capital for AU$53.8 million. The transaction is contingent upon Forza completing environmental due diligence and securing internal approvals by mid-June.Bankers Investment Trust's (NZE:BIT) unaudited net asset value was 1.516 pounds sterling per share as of Wednesday. This included current financial year revenue items and excluded shares held in treasury.

New Zealand's Total New Lending Rises in March

New Zealand's total new lending increased to NZ$15.13 billion in March from NZ$11.05 billion in February, according to data from the Reserve Bank of New Zealand released on Friday.New lending fully secured by residential mortgage rose to NZ$8.68 billion in March from NZ$6.99 billion in the previous month.Personal consumer new lending increased to NZ$259 million from NZ$223 million. New lending for business rose to NZ$4.38 billion from NZ$2.74 billion.Lending for agricultural purposes rose to NZ$1.42 billion from NZ$854 million. Other new lending increased to NZ$384 million from NZ$250 million.

New Zealand First Home Buyers Retain High Market Share Amid Favorable Conditions, Cotality-Westpac Report Says

First home buyers in New Zealand represented 27.5% of property purchases across the country in the first quarter, slightly lower than the 28.2% record high in the fourth quarter of 2025, according to a Cotality-Westpac report published Friday.First home buyers are purchasing more in a market that is busier overall: over the last 12 months, they bought some 24,800 properties, the biggest annual total since the third quarter of 2021, according to the report."This strength for [first home buyers] is being seen right across the country, with market shares running above their own long-term averages since 2005," the report said, noting that first-time buyers accounted for 37% of first-quarter activity in the broader Wellington area, roughly 8 percentage points higher than its average.Activity for first home buyers is supported by access to low-deposit finance, with recent central bank data showing that more than half of their loans are offered at less than 20% deposit."Looking ahead, although getting onto the property ladder remains challenging, conditions should stay relatively favorable for first home buyers," the report said.

NZX Midday Sector Update: Consumer Services Stocks Advance, Financial Sector Struggles

Consumer services stocks advanced nearly 1% at midday Friday.Skycity Entertainment Group (NZE:SKC, ASX:SKC) gained nearly 1% in recent trade.On the flip side, the financial sector struggled, shedding almost 4%.Westpac Banking (NZE:WBC, ASX:WBC) shares fell nearly 5% in recent trade.

OECD Says New Zealand Should Stop Frequent Changes to RBNZ Mandate

The Organisation for Economic Cooperation and Development (OECD) said New Zealand should reconsider how frequently it adjusts the Reserve Bank of New Zealand's remit, as frequent changes raise the risk of monetary policy mistakes, according to a Thursday report published by the organization.The central bank's remit is set by New Zealand's Minister of Finance and covers its operational objectives, including the target inflation range.The OECD said there have been frequent changes to the monetary policy mandate and remit since 2019, and that maintaining stability outside scheduled five-year review cycles would support the bank's credibility and enhance its ability to deliver on its inflation objectives.The organization recommended reinforcing the RBNZ's operational independence and credibility, noting that maintaining stability for the full five-year cycle until the 2028 review would support predictability, credibility, and confidence in the monetary policy regime.

New Zealand Shares Rise; Comvita Rights Offer Meets NZ$25 Million Minimum Capital Raise Requirement

New Zealand shares ended higher on Thursday amid a broad-based rise in Asian shares as investors welcomed hopes of a US-Iran peace deal.The S&P/NZX 50 Index rose 0.95% or 125.42 points to close at 13,270.61.Iran said it was reviewing a peace proposal from the US on Wednesday, while US President Donald Trump said it's "very possible" that the two countries will come to a deal, according to a Wednesday Reuters report.In domestic news, the national average rent in New Zealand saw a 1.4% decline to NZ$631 per week in April, compared with NZ$640 per week during the same time last year, and almost NZ$30 below the highest recorded rent in May 2024 of NZ$660 per week.Also, the Organisation for Economic Cooperation and Development said New Zealand should reconsider how often it changes the Reserve Bank's remit, warning that frequent adjustments increase the risk of monetary policy errors, according to a Thursday statement by the international organization.In corporate news, Comvita (NZE:CVT) confirmed that it has satisfied the minimum capital raise requirement of NZ$25 million for its pro-rata renounceable rights offer, driven by strong shareholder participation and Fraser and Neave's nearly 20% shortfall commitment.Santana Minerals' (ASX:SMI, NZE:SMI) wholly owned subsidiary, Matakanui Land, has been approved by New Zealand's Overseas Investment Office to acquire land across Bendigo and Ardgour stations, clearing the way for the company's proposed gold mining project.

National Average Rent in New Zealand Falls in April, Realestate.co.nz Says

National average rent in New Zealand saw a 1.4% decline to NZ$631 per week in April, compared with NZ$640 per week during the same time last year, and almost NZ$30 below the highest recorded rent in May 2024 of NZ$660 per week, according to figures from realestate.co.nz.Rent also decreased in most parts of the country, with the average weekly rent falling in 10 of 19 regions compared with last year.Central North Island rents fell to NZ$566 per week in April this year from NZ$619 in April 2025, while Gisborne rents fell to NZ$628 per week from NZ$664.Wellington also saw a year-on-year decline to NZ$620 per week from NZ$647 per week.Meanwhile, national new rental listings rose 5.1% in April this year to 6,165 from 5,868 in the same period last year.

NZX Midday Sector Update: Technology Services Advance, Electronic Technology Falls

Technology services shares gained the most on New Zealand's Exchange, rising past 4% by midday Thursday.Shares of Gentrack Group (NZE:GTK, ASX:GTK) rose nearly 12% in recent trade.On the flip side, the electronic technology sector saw a marginal sell-off on a day when most sectors rallied, shedding 0.3%.Shares of ikeGPS Group (ASX:IKE, NZE:IKE) fell 1% in recent trade.

Market Chatter: New Zealand Considering Singapore, Malaysia as Fuel Storage Options Amid Middle East Conflict

New Zealand is considering storing its fuel in Singapore and Malaysia amid the impact of the Iran war, according to a report by Bloomberg on Wednesday.The country's resource minister, Shane Jones, revealed that New Zealand does not have surplus storage capacity and is currently exploring alternatives, with Malaysia and Singapore cited as two countries to cater to the country's storing needs, the report said.New Zealand's storage capacity was severely impacted following the closure of a solitary refinery in Auckland in 2022, the report noted.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

New Zealand Shares Rise; Infratil Unit Secures 555-Megawatt Contract

New Zealand shares ended higher on Wednesday as all Asian indexes rose amid rising hopes of peace between the US and Iran.The S&P/NZX 50 Index rose 0.84% or 109.49 points to close at 13,145.19.US President Donald Trump said on Tuesday he would temporarily halt an operation escorting ships through the Strait of Hormuz, citing "great progress" in talks toward a broad agreement with Iran, according to a Tuesday Reuters report.Asian indexes were also helped by Tuesday's higher Wall Street close, with the Nasdaq Composite rising 1%, the S&P 500 gaining 0.8%, and the Dow Jones adding 0.7%.In domestic news, the Reserve Bank of New Zealand expects New Zealand's economic recovery to be slower due to the Middle East conflict, which is reducing business profits as higher oil prices cause businesses to invest less and households to save more, according to the central bank's financial stability report.Further, New Zealand's seasonally-adjusted unemployment rate fell to 5.3% in the March quarter from 5.4% in the December 2025 quarter, data from Stats NZ showed.Also, Data from New Zealand's labor market surveys is supportive of its forecast of a 0.8% rise in gross domestic product (GDP) for the March quarter, Westpac said.Finally, a total of 13,743 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 13,068 to 17,289 MT, according to data from the trading platform.In corporate news, Infratil (ASX:IFT, NZE:IFT) said its CDC Data Centres business has signed a 30-year agreement with an unnamed US investment-grade client for 555 megawatts of capacity.Ventia Services Group (ASX:VNT, NZE:VNT) received notice that Macquarie Group (ASX:MQG) and its affiliates became a substantial holder of the company on April 30.

People in New Zealand Increasingly Changing Spending Habits, Behaviors Due to Middle East Conflict, Westpac NZ Says

People in New Zealand are increasingly changing their spending habits and behaviors due to the Middle East conflict, according a report by Westpac NZ on Wednesday.The bank said 84% of the people surveyed reported that they adjusted their behavior in response to the conflict, up from 74% of the people surveyed on March 19.The survey was conducted by research platform Ideally on April 30, with 530 respondents aged between 18 and 80.Over three-quarters of the respondents were worried about the impact of the conflict on their finances.Of the respondents who have changed or are considering changing their behavior in the next six months, 41% said they were confident the changes will help them manage the impact of the conflict on their finances, compared with 24% who were unconfident.The people cutting back on non-essential spending rose to 43% as of April 30 from 28% in March, while 51% are now driving less compared with 41% earlier. The survey also showed that 35% of the respondents changed how they shop for their groceries, up from 26% in March.Westpac customers have reduced their card spend on the likes of clothing and restaurant meals to offset their higher fuel costs since the conflict began, Westpac NZ Chief Executive Catherine McGrath noted.Nearly two-thirds of Westpac's home loan customers were more than three months ahead on their repayments at the end of March, up slightly on six months ago. The median customer was 10.6 months ahead.

Middle East Conflict Strains New Zealand's Economic Recovery, But Financial System Remains Resilient, Central Bank Says

New Zealand's financial system remains resilient amid elevated global uncertainty, and risks to the housing market appear to be contained, although the impact on overall stability will depend on the duration and severity of the Middle East conflict, the country's central bank said Wednesday.However, the geopolitical situation might result in a slower domestic economic recovery, potentially impacting the employment landscape and creating fresh stress for debt servicing, the Reserve Bank of New Zealand said in its latest financial stability report.The conflict has triggered a surge in oil prices, with petrol and diesel pushing close to their highest levels in 50 years after adjusting for inflation.These higher costs are expected to eat into business profits, with some firms already grappling with weak demand and lacking the same cash buffers from three years ago. Chemical and plastic manufacturers, the transport sector, and parts of the primary sector are most exposed to higher input costs, the central bank said.But despite the risks to the economy, strong export prices mean farmers should be able to manage the shock.The RBNZ adjusted results from its 2025 bank stress test to assess a hypothetical recession in New Zealand, which showed the unemployment rate peaking at 10.5%, house prices plummeting 35%, and gross domestic product shrinking by 6.5%.Banks are well-positioned to provide credit even in a challenging environment. Even in such an imagined scenario, the aggregate common equity tier 1 ratio, a measure of financial strength, for the country's four largest banks remains higher than regulatory minimums and "materially above" levels before the 2008 financial crisis.At a press conference following the report, central bank Governor Anna Breman said unemployment rates for the March quarter "are in line with what they expected from a financial stability perspective."Data released earlier Wednesday showed the seasonally adjusted unemployment rate fell to 5.3% in the March quarter from 5.4% in the last quarter of 2025. The jobs data reinforced the bank's view that the domestic economy was recovering before the conflict erupted.During the meeting with the press, Breman added that despite New Zealand's relatively low sovereign debt levels, the country could see some fiscal impact if longer-dated government bond yields rise.

New Zealand's Labor Market Surveys Support 0.8% GDP Rise for March Quarter, Westpac Says

Data from New Zealand's labor market surveys is supportive of its forecast of a 0.8% rise in gross domestic product (GDP) for the March quarter, Westpac said Wednesday.New Zealand's seasonally-adjusted unemployment rate fell to 5.3% in the March quarter from 5.4% in the December 2025 quarter, data from Stats NZ showed the first decline since December 2021.The bank said it and the market expected a flat outturn, but the result was in line with the New Zealand central bank's February monetary policy statement forecasts.The fall in unemployment was due to the "unusual combination" of a rise in employment along with a fall in labor force participation.The employment measures in the survey painted a fairly consistent picture of a lift in activity over the March quarter, recording a 0.8% rise in the total number of hours worked, a 0.7% rise in full-time equivalent workers and 0.6% gains in filled jobs and hours paid.There is now a range of evidence that the economy was starting to regain some momentum in the early part of 2026, but the conflict in the Middle East has clouded the outlook for both activity and inflation pressures in the months ahead, the report noted.

NZX Midday Sector Update: Finance Advances, Distribution Services Decline

Finance shares gained the most on New Zealand's Exchange, rising over 4% by midday Wednesday.Westpac Banking (ASX:WBC, NZE:WBC) gained 5% in recent trade.The Reserve Bank of New Zealand on Wednesday said that New Zealand's four largest banks would maintain capital buffers even in a stress scenario where the unemployment rate peaks at 10.5%, gross domestic product declines by 6.5%, and house prices fall by 35%.Meanwhile, the distribution services sector shares fell past 3%.Vulcan Steel (NZE:VSL, ASX:VSL) was down 3% in recent trade.

New Zealand's Q1 Unemployment Rate Aligns With Reserve Bank Projection, ANZ Says

New Zealand's unemployment rate fell 0.1 percentage point to 5.3% in the first quarter, aligning with the Reserve Bank's February projection, according to a report released by ANZ on Wednesday.The unemployment rate was slightly lower than ANZ's expectation of 5.4%, per the report.Despite this decline, the underlying data revealed weaker-than-expected employment growth of 0.2% quarter on quarter and a slight fall in the labor participation rate.Meanwhile, wage growth remained stable and consistent with target inflation levels.While employment, hours worked, and paid hours all expanded in the quarter and landed in the ballpark of ANZ's first-quarter gross domestic product forecast of 0.8% quarter on quarter, the data is viewed as a "look in the rearview mirror" with recent global oil price shocks shifting the outlook.Figures indicate a labor market that was recovering in alignment with Reserve Bank forecasts before the oil shock, but offer very little insight into the labor market's future path.

RBNZ Press Conference: RBNZ Concerned that Risks of Under Insurance or No Insurance Might Increase But Coverage Remains High for Now

RBNZ Press Conference: New Zealand May Be Impacted if Longer-Dated Government Bond Yields Rise Despite NZ's Low Debt Level

RBNZ Press Conference: Unemployment Numbers Reinforce RBNZ's View That New Zealand Economy Was Actually Recovering Before Middle East Conflict

RBNZ Press Conference: Unemployment Numbers in Line With What RBNZ Expected From a Financial Stability Perspective

RBNZ Expects Slower Recovery for New Zealand Economy Amid Middle East Conflict Despite Resilient Financial System

The Reserve Bank of New Zealand expects New Zealand's economic recovery to be slower due to the Middle East conflict reducing profits for businesses as a result of higher oil prices, causing them to invest less and households to save more, according to the central bank's financial stability report published on Wednesday.The bank noted that business deposits have declined as a share of gross domestic product over the past three years, particularly for smaller firms, suggesting that businesses do not have the same cash buffers now.Financial markets have become more volatile due to the Middle East conflict, RBNZ said. While New Zealand banks are well funded and have the flexibility to manage short-term disruptions, this volatility could interact with other vulnerabilities and result in a more significant tightening in financial conditions internationally, the central bank added.RBNZ said New Zealand's four largest banks would maintain capital buffers even in a stress scenario where the unemployment rate peaks at 10.5%, gross domestic product declines by 6.5%, and house prices fall by 35%.The central bank said it will release a crisis preparedness consultation package in June, including additional loss-absorbing capital requirements, which would provide a key source of resilience if a scenario worse than the 2025 stress test eventuated.The Depositor Compensation Scheme, which became operational in July 2025 and provides a government-backed guarantee for deposits up to NZ$100,000 if a deposit taker fails, has boosted deposit growth for finance companies, enabling them to reduce term deposit rates to only slightly above what banks are offering, the report added.The housing market generally remains soft, with elevated inventories weighing on house prices, particularly in Auckland and Wellington, with prices around the top of the RBNZ's estimated sustainable range, although rising mortgage rates could reduce house prices further, and growth in mortgage lending has been subdued, the report added.The performance of insurers has been mixed, with health insurers adapting to higher claims costs partly by raising premiums, while dwelling and general insurers have benefited from fewer large claims events, although impacts on claims costs and supply chain disruptions from the Middle East conflict could affect general insurers, who account for about 60% of premiums, RBNZ added.