The NZX 50 slipped 42 points, or 0.3%, to close at 12,935 on Friday, halting a two-day advance as logistics, consumer durables, and transport stocks retreated. Market sentiment weakened amid escalating tensions in the Middle East after U.S. President Trump warned Iran to agree to a deal or face sustained military pressure, even suggesting that taking control of Iran’s oil was an option.
Over the week, the benchmark logged its fourth consecutive decline, shedding 0.4%. The downturn was driven in part by new data showing New Zealand’s consumer confidence fell in March to a 17‑month low, reflecting rising geopolitical unease. At the same time, the Reserve Bank cautioned that the Iran conflict could fuel inflation and undermine domestic growth momentum.
The overall pullback was partially offset by strong data from New Zealand’s largest trading partner, China, where industrial profits surged 15.2% in the first two months of 2026 — the strongest start to a year since 2018, excluding the pandemic-related spike in 2021.
Among the notable decliners were Gentrack Group (-5.1%), Fonterra Co-op (-4.5%), Mainfreight (-4.4%), and Property for Industry (-2.6%).
