NZX 50 Finishes Nearly Flat Amid Oil Price Uncertainty
New Zealand's stock market finished nearly flat on Thursday after experiencing gains in some sectors and losses in others. The NZX 50 index closed at 13,825, marking little change from the previous day.
The energy, industrial, and financial sectors saw gains, but these were offset by declines in tech stocks, communication services, and real estate. Traders remained cautious due to higher oil prices and uncertainty surrounding US-Iran talks.
RBNZ Governor Anna Breman had warned that inflation could be higher if high oil prices persist, adding to the market's caution. The outcome of the Trump-Xi summit also weighed on traders' minds, as AI and tariffs were expected to be discussed.