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New Zealand stocks lose 0.8%, biggest fall in four weeks

New Zealand stocks lose 0.8%, biggest fall in four weeks

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Updated October 19, 2023 at 12:34 a.m. ET

04:14 GMT — New Zealand’s NZX-50 closed 0.8% lower at 11135.58, its biggest decline in four weeks amid global concern over the potential economic impact of the Israel-Hamas conflict. Shares of 16 of the 20 largest companies by market capitalization finished in the red, with only property trust Goodman and a trio of utility providers gaining ground. Meridian Energy, Contact energy And Mercury Reviews added between 0.1% and 0.6%. ANZ Banks, Heart of the country And Westpac lost between 1.15% and 2.4%. Dairy stocks Fonterra, Synlait and a2 Milk lost between 0.6% and 2.2%. Infrastructure investor Infratil, Auckland International Airport and the Port of Tauranga fell between 0.6% and 2.1%. The NZX-50 is down 1.2% since the start of the week and is on track for its fourth consecutive weekly decline. (stuart.condie@wsj.com)

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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