The NZX 50 retreated 94 points, or 0.7%, to end at 13,199 on Thursday, reversing the prior session’s rally as U.S. stock futures slumped and oil prices surged back toward USD 100 per barrel amid fresh supply disruptions tied to escalating conflict in the Middle East. The oil rally came despite global efforts to stabilize markets. Sentiment was further dampened by a Q4 2025 drop in New Zealand manufacturing sales, marking a reversal from earlier strength and signaling weaker year-end momentum. Looking ahead, key releases due next week include February food inflation and Q4 GDP. Losses were partly contained by stable U.S. annual inflation in February, ahead of the energy shock. Sector pressure was broad, with financials, transport, non-energy minerals, and healthcare among the top drags. Notable decliners included Sky Network TV (-3.2%), Gentrack Group (-3.0%), Serko Ltd. (-2.9%), Meridian Energy (-2.6%), and Fletcher Building (-2.4%).
