New Zealand shares fell 76 points, or 0.6%, to 12,914 in Friday morning trading, ending a two-session winning streak after a sharp decline on Wall Street overnight. Risk sentiment deteriorated after U.S. President Trump said Washington was uncertain about pursuing a peace deal with Iran. Adding to concerns, Federal Reserve Governor Lisa Cook noted on Thursday that the war in Iran has shifted the balance of the central bank’s dual mandate toward inflation risks.
On the domestic front, consumer confidence dropped to a 17‑month low in March, weighed down by worries over tensions in the Middle East. Investors also turned more cautious ahead of China’s January–March industrial profit figures due later today and key PMI readings scheduled for next week.
Most sectors retreated, with consumer durables, consumer non‑durables, non‑energy minerals, and financials leading the declines. Fonterra Co‑operative Group fell 5.3%, while Tourism Holdings lost 2.3%, Freightways slid 2.2%, and Auckland International Airport dropped 1.6%. By contrast, PGG Wrightson gained 1.8%, Seeka Ltd. added 1.4%, and T&G Global rose 1.2%.
For the week, the NZX 50 is on track for a fourth consecutive loss, down about 0.6% so far.
