FX.co ★ New Zealand Equities Close 1% Lower

The NZX 50 declined 130 points, or 1.0%, to close at 13,080 on Tuesday, snapping gains from the previous session. The move tracked weakness in US futures amid renewed uncertainty in the Middle East after US President Trump rejected Tehran’s latest peace proposal.

Sentiment was further weighed by caution ahead of key domestic data releases, with New Zealand’s food inflation figures and the manufacturing PMI both due later this week. Investors were also focused on US inflation data scheduled for Tuesday, as rising fuel prices could influence the Federal Reserve’s monetary policy stance at its upcoming meeting. Markets will additionally be watching developments involving US President Trump and Chinese President Xi Jinping later this week.

Losses were broad-based, led by consumer staples, healthcare, financials, and communication services. Notable decliners included A2 Milk (-4.4%), Fisher & Paykel (-2.9%), Ebos Group (-1.9%), ANZ Group (-1.8%), Contact Energy (-1.7%), Chorus (-1.7%), and Mainfreight (-0.7%).