The NZX 50 was little changed around 13,103 in Friday morning trade, stabilizing after two consecutive declines and a rebound from its lowest level since May 26. Strength in consumer staples and financials was largely offset by weakness in industrials and communication services.
Investors continued to weigh the risk that New Zealand could be hit with a new 12.5% US tariff, after the US Trade Representative said 54 economies, including New Zealand, had failed to impose and effectively enforce a ban on goods produced with forced labor. Markets were also cautious ahead of key macroeconomic releases: US employment data due later in the day, followed by US inflation figures and China’s inflation and trade balance data scheduled for next week.
At the stock level, Freightways Group slipped 2.2%, Ryman Healthcare fell 2.1%, and Westpac Banking Corp. eased 0.6%. In contrast, A2 Milk advanced 1.2% and Ebos Group gained 0.9%. For the week, the NZX 50 lost 1.1%, its first weekly decline in three weeks.
