FX.co ★ NZX 50 Ends 0.1% Lower, but Posts 2nd Weekly Gain

The NZX 50 slipped 14 points, or 0.1%, to 13,811 on Friday, after a flat close in the previous session, as a global bond sell-off driven by a jump in US Treasury yields strengthened expectations of a further Federal Reserve rate hike. Sentiment was also cautious amid sustained high oil prices, reflecting continued disruptions to Gulf shipping routes. RBNZ Governor Anna Breman recently warned that inflation could prove more persistent if elevated oil prices are maintained. Investors were also looking ahead to key data releases: China’s PMI figures — crucial for New Zealand’s largest trading partner — along with next week’s US PCE inflation data and labour market reports, which may offer further signals on the Fed’s policy stance at its upcoming meeting. Sector-wise, financials, real estate, utilities, and communication services were the main drags on the index. Among individual names, notable declines included Delegat Group (-4.1%), Infratil (-2.1%), Brisco Group (-1.8%), Ventia Services (-1.5%), Fletcher Building (-0.8%), and F&C Investment (-0.7%). Despite Friday’s dip, the NZX 50 advanced 0.5% for the week, its second consecutive weekly gain.