FX.co ★ Kiwi Stocks Slip Further on Oil Rally, Geopolitical Jitters

New Zealand shares fell 44 points, or 0.3%, to 13,143 in Monday morning trade, extending losses into a third consecutive session after a weak finish on Wall Street Friday weighed on sentiment. At the same time, oil prices climbed above USD 100 per barrel, while reports that 2,500 U.S. Marines are being deployed to the Middle East added to geopolitical caution. Investors also remained wary ahead of key domestic data releases next week, including February food inflation and Q4 GDP. In China, New Zealand’s largest trading partner, January–February activity figures covering industrial output and retail sales are due later today. Downside pressure was partly offset by fresh data pointing to a rebound in New Zealand’s retail card spending in February. Losses were broad-based across sectors, led by consumer durables, services, non-energy minerals, and healthcare. Early notable decliners included Fletcher Building (-2.3%), Hallenstein Glasson (-2.1%), PGG Wrightson (-1.9%), and Scott Technology (-1.7%).