FX.co ★ New Zealand Stocks End Slightly Higher

On Thursday, New Zealand's benchmark S&P/NZX 50 index experienced a slight increase of 0.15%, closing at 12,339, effectively reversing earlier declines. The index had initially suffered a sharp drop following an announcement from U.S. President Donald Trump about imposing comprehensive new tariffs, with New Zealand among the countries subjected to a standard 10% levy. In response, Trade Minister Todd McClay stated that New Zealand would refrain from retaliatory measures, as this approach could potentially raise consumer prices and exacerbate inflationary pressures. Fisher & Paykel, a market leader, managed to recover by 0.3% after initially declining when the company warned that the new U.S. tariffs could lead to increased costs for the fiscal year 2026. Among the notable gainers were Port of Tauranga, which surged by 2.3%, Ebos Group at 1.7%, Contact Energy rising by 1.3%, Mercury NZ with a 1.05% uptick, and Auckland International Airport, up by 0.95%, all contributing to the market's recovery.