NZX 50 Ends 0.2% Lower After Reversing Early Gains

The NZX 50 fell 21 points, or 0.2%, to close at 12,970 on Monday, erasing gains from the previous two sessions and reversing morning strength, mainly weighed down by the energy, tech, consumer staples, real estate, and healthcare sectors. The broader index pulled back from its highest level since May 14, touched on Friday, as traders remained cautious ahead of the RBNZ’s monetary policy decision on Wednesday, with markets expecting the central bank to keep interest rates unchanged. Caution was also built as traders anticipated the release of the government’s 2026 budget later this week. However, gains in US futures capped the decline amid hopes of a US-Iran deal to end the war. Among the top losers were Gentrack Group (-7.3%), Channel Infrastructure (-2.7%), Summerset Group (-2.2%), Westpac Banking Corp. (-1.6%), A2 Milk (-1.6%), Hallenstein Glasson (-1.5%), and Fisher & Paykel (-1.3%).
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