The NZX 50 was little changed around 12,879 on Friday morning, after pulling back in the previous session and attempting to rebound from its lowest level since April 1, reached the day before. Strength in healthcare, consumer staples, and consumer discretionary stocks offset weakness in energy, financials, and materials.
Investors continued to digest Thursday’s remarks from Finance Minister Nicola Willis on the pace of economic recovery. Willis said the economy had been “delayed but not derailed,” citing the Iran war’s impact on higher fuel costs and weaker business and consumer confidence. Sentiment was further pressured by Moody’s decision to revise New Zealand’s outlook from stable to negative.
Among individual movers, A2 Milk gained 0.5%, Chorus rose 0.7%, and Ebos Group advanced 0.9%, while Freightways and Infratil slipped 0.5% and 0.7%, respectively. On a weekly basis, the index edged down 0.2%, posting a second consecutive weekly decline amid ongoing uncertainty over US–Iran ceasefire negotiations.
