The NZX 50 fell 74 points, or 0.6%, to close at 13,171 on Tuesday, retreating after gains in the previous session as trading resumed following Monday’s holiday. Sentiment was pressured by uncertainty surrounding US–Iran peace talks aimed at ending the conflict, with the benchmark index pulling back from Friday’s peak, its highest level since May 7. Losses were led by materials, financials, energy, and consumer discretionary stocks.
Investors continued to digest remarks from RBNZ Governor Anna Breman, who signaled last week that the Official Cash Rate is likely to rise earlier and more sharply than previously projected. Caution also prevailed ahead of key US data releases later this week, including PMI readings and jobless claims.
Notable decliners included ANZ Group (-4.1%), Vulcan Steel (-3.6%), Infratil (-3.0%), Chorus (-2.3%), Westpac Banking Corp. (-1.8%), Australian Foundation Investment (-1.8%), F&C Investment (-1.7%), Hallenstein Glasson (-1.6%), and Fisher & Paykel (-1.3%).
