FX.co ★ New Zealand Shares Extend Losses to 3rd Session

The NZX 50 slipped 31 points, or 0.2%, to 12,844 in Tuesday morning trade, reopening after Monday’s holiday and extending its losing streak to a third consecutive session. The benchmark remained at its lowest level since April 1, with industrial, healthcare, and technology stocks exerting the most downward pressure.

Market sentiment was further dampened by uncertainty over US–Iran peace talks and the associated rise in oil prices, which has heightened concerns about domestic inflation given New Zealand’s status as a net oil importer.

US equity futures were trading higher, helping to limit deeper losses on the local market ahead of a busy week of earnings reports from major technology companies.

Notable decliners included Fletcher Building (-2.2%), Vector (-0.8%), Freightways (-0.6%), Infratil (-0.6%), Westpac Banking Corporation (-0.5%), and Fisher & Paykel Healthcare (-0.3%).