FX.co ★ New Zealand Stocks Muted in Early Deals

In the morning trading session on Tuesday, the NZX 50 index held steady at approximately 12,536, following four consecutive declines. The index saw gains in sectors such as materials, energy, and consumer staples, which were counterbalanced by declines in financials, utilities, and industrials. Market participants exercised caution due to rising tensions in the Middle East, closely following developments after Iran's missile launch at a US air base in Qatar. On a brighter note, Federal Reserve Governor Michelle Bowman suggested that the central bank should contemplate reducing its key interest rate as early as the upcoming July meeting. In the United States, major stock indices closed higher overnight, largely driven by a significant drop in oil prices. Additionally, President Trump announced a ceasefire timeline and expressed intentions to resolve the conflict between Iran and Israel. On the domestic front, investors are anticipating the release of trade data and consumer sentiment indices this week. Within the market, Mainfreight's shares advanced by 2.7%, Westpac Banking Corp. rose by 0.7%, while Auckland International Airport and A2 Milk experienced declines of 0.8% and 1.0%, respectively.