New Zealand’s benchmark S&P/NZX 50 index fell 0.5% to 12,467 on Tuesday, marking its fifth consecutive decline and closing at its lowest level in nearly three weeks, as sentiment remained cautious amid lingering geopolitical risks. President Donald Trump announced a ceasefire agreement between Iran and Israel, saying it had begun late Monday, with Iran expected to halt its attacks first, followed by Israel.
However, Iran’s foreign minister denied reports of a US-brokered deal, stating that Iran would only stop its attacks if Israel ended its airstrikes. Domestically, traders awaited upcoming trade data and consumer sentiment figures due later this week. Across the bourse, non-energy mineral stocks led losses, down 3%, with sharp declines in Fletcher Building (-3.6%) and Santana Minerals (-1.7%). Other key laggards included Briscoe Group (-3.4%), A2 Milk (-2.7%), Sky Network (-2.1%), and Vista Group (-2%).
