The NZX 50 was little changed around 13,453 in Tuesday morning trade, stabilizing after losses in the previous session. Gains in industrials, consumer staples, and real estate were largely offset by weakness in energy, communication services, and healthcare stocks.
Market participants looked ahead to this week’s release of the US final Q1 GDP figures and the May PCE Price Index for further guidance on the Federal Reserve’s policy outlook at its upcoming meeting, following the Fed’s decision to leave interest rates unchanged last week.
Investors also kept a close watch on US–Iran peace talks against the backdrop of continued Israeli strikes across southern Lebanon, despite ongoing diplomatic efforts.
Among individual movers, Turners Automotive Group gained 1.5%, A2 Milk rose 1.2%, and Ryman Healthcare added 0.9%. On the downside, Meridian Energy slipped 0.7%, Summerset Group eased 0.6%, and Auckland International Airport declined 0.5%.
