FX.co ★ NZX 50 Ends 0.7% Lower but Posts 2nd Weekly Gain

The NZX 50 slipped 92 points, or 0.7%, to finish at 13,999 on Friday, pulling back from a record high set the previous day. The move mirrored overnight weakness on Wall Street, where AI-related chipmakers slumped, as investors weighed the implications of the Democrats’ sweeping victory on Tuesday. The decline followed the index’s strongest single-day performance in nearly 19 months on Thursday.

Sentiment was further pressured by rising oil prices, which reignited concerns about inflation and the potential for additional interest rate hikes amid renewed risks of a US–Iran conflict. Investors also turned cautious ahead of key data releases: US nonfarm payrolls due later today, China’s CPI, PPI, and trade figures, as well as next week’s US inflation data.

Nearly all sectors finished in negative territory, led by consumer staples and financials. Notable decliners included Sanford (-3.6%), F&C Investment (-2.8%), Infratil (-1.9%), A2 Milk (-1.7%), and Mainfreight (-1.1%).

Despite Friday’s pullback, the NZX 50 advanced 1.5% for the week, marking its second consecutive weekly gain.