05.02.202605:36:56UTC+00New Zealand Equities Retreat

The S&P/NZX 50 index edged down by 0.2% to settle at 13,444 on Thursday, snapping its prior gains as declines in non-energy, healthcare, and communications sectors overshadowed the advances in financials and utilities. This downturn mirrored the situation on Wall Street, where significant pressure on major US tech and AI-associated stocks adversely impacted investor confidence. The non-energy minerals sector experienced the most significant setbacks, falling by 3.2%, led by significant drops in shares of Santana Minerals (-6.8%), Fletcher Building (-2.4%), Manuka Resources (-2.2%), and Chatham Rock Phosphate (-1.6%). Other firms facing notable decreases included Serko (-4.4%), Summerset (-2.3%), Infratil (-1%), A2 Milk (-1%), Spark NZ (-0.4%), and Fisher & Paykel (-0.3%). Despite the decline on Thursday, the NZX 50 has managed a modest 0.16% increase for the week so far, as markets observe if these gains will hold through Friday.