FX.co ★ NZX 50 Reverses Morning Gains, Closes Down 0.4%

The NZX 50 slipped 56 points, or 0.4%, to finish at 13,115 on Wednesday, reversing early gains and extending the previous session’s decline. The market was dragged lower primarily by materials, industrials, and consumer staples stocks, as traders stayed cautious amid uncertainty over US–Iran peace talks.

Sentiment was further pressured by weaker-than-expected economic data. New Zealand’s merchandise terms of trade fell more than anticipated in the first quarter of 2026, signaling a deterioration in exporters’ purchasing power even as export volumes increased.

Downside moves were partially limited by stronger construction data, with new dwelling consents rebounding 10.9% in April. Among the notable decliners were Mainfreight (-3.5%), Ebos Group (-2.5%), and Ventia Services Group (-1.7%), while Sky Network Television and Turners Automotive each lost 1.6%.