17.04.202606:03:03UTC+00New Zealand Stocks End 1.2% Lower

New Zealand’s benchmark S&P/NZX 50 Index dropped 160 points, or 1.2%, to close at 12,906 on Friday, extending the previous session’s losses and hitting its lowest level since April 2 ahead of next week’s Q1 inflation release. Caution prevailed after fresh data showed petrol and diesel prices surged 18.6% and 42.6% in March, respectively, reflecting the impact of conflict in the Middle East and raising concerns about renewed inflationary pressures and the potential implications for the RBNZ’s policy outlook. The decline was partially limited by gains in U.S. futures, supported by optimism around U.S.-Iran peace efforts following a 10-day ceasefire agreement between Israel and Lebanon. All sectors finished in negative territory, led by utilities and healthcare. Notable decliners included Ryman Healthcare (-3.9%), Meridian Energy (-3.0%), Contact Energy (-1.7%), Freightways Group (-1.6%), Fisher & Paykel Healthcare (-1.4%), Infratil (-1.1%), and Ebos Group (-0.7%). Over the week, the index fell 2.1%, reversing gains from the previous week.