FX.co ★ NZ Stocks Finish Near 3-Week Low

On Tuesday, New Zealand's S&P/NZX 50 index dropped by 0.5% to close at 12,467. This downturn marked the fifth consecutive session of losses and the index's lowest close in nearly three weeks, amid cautious market sentiment driven by ongoing geopolitical tensions. U.S. President Donald Trump announced a ceasefire agreement between Iran and Israel, noting that it initiated late Monday with Iran expected to cease attacks first, followed by Israel. However, Iran’s foreign minister refuted claims of a deal facilitated by the U.S., asserting that cessation of Iranian attacks would only occur if Israel halted its airstrikes. On the domestic front, market participants anticipated the release of trade data and consumer sentiment figures scheduled for later in the week. Across the stock market, non-energy mineral stocks suffered significant losses, declining by 3%, with notable decreases in Fletcher Building (-3.6%) and Santana Minerals (-1.7%). Other major detractors included Briscoe Group (-3.4%), A2 Milk (-2.7%), Sky Network (-2.1%), and Vista Group (-2%).