The NZX 50 index experienced a decline of 18 points, or 0.13%, settling at 13,136 on Friday morning. This marked the second consecutive day of losses following the third day of downturns in U.S. stock markets, influenced by mixed economic indicators and corporate reports. Incoming Reserve Bank of New Zealand (RBNZ) Governor Anna Breman reaffirmed the institution's commitment to maintaining "laser-focused" attention on achieving low and stable inflation, cautioning against the adverse impacts of inflationary pressures. Breman is slated to commence her five-year term on December 1, 2025, succeeding the current Acting Governor, Christian Hawkesby.
The index was particularly affected by weaknesses in sectors such as non-energy minerals, retail trade, and commercial services, with notable declines from companies like Briscoe Group (-2.9%), Colonial Motor (-2.4%), Fletcher Building (-1.9%), and Gentrack (-1.5%). For the week, the NZX 50 is on track to register a significant drop of 0.7%, following its previously stagnant performance. However, some losses were offset by recent data showing an improvement in consumer sentiment in New Zealand for September, rebounding from a ten-month low, as the effects of lower interest rates begin to permeate the economy.
