The NZX 50 was little changed around 12,768 on Wednesday morning, after falling for a third consecutive session, as investors awaited a speech by RBNZ Governor Anna Breman later in the day for further clues on the central bank’s policy outlook. Sentiment was also cautious amid higher oil prices, which could add pressure to domestic inflation.
The benchmark index was attempting to rebound from its lowest level since March 30, hit in the previous session, with gains in healthcare, energy, and consumer discretionary stocks largely offset by losses in consumer staples, financials, and communication services.
Overseas, Wall Street finished lower overnight, weighed down by signs of weakness at OpenAI and the impact of rising oil prices. On the local market, Fisher & Paykel Healthcare advanced 1.3%, Ebos Group added 1.1%, and FC Investment climbed 0.4%, while Port of Tauranga and Chorus each slipped 1.0% and Freightways declined 0.9%.
