16.08.202623:13:39UTC+00New Zealand Stocks Fall as Consumer Stocks Weigh

New Zealand shares fell 103 points, or 0.7%, to 13,751 in Monday morning trade, wiping out gains from the previous session, as weakness in consumer staples, energy, and industrials weighed on the market. Consumer staples tumbled 5.8%, led by A2 Milk, which sank 8.9% after the company reported a 44% drop in net profit for the 12 months to June. The profit decline was attributed to supply chain disruptions that hurt sales of its China-label infant formula.

The broader index slid to its lowest level since July 31, tracking Friday’s losses on Wall Street following weaker-than-expected economic data. Sentiment was further pressured by signs that New Zealand’s private sector growth slowed in July.

Still, some local data helped limit the downside. Food inflation eased to a 20‑month low, credit card spending rebounded, and the services sector posted its strongest expansion in seven months. Among other early decliners were Fletcher Building (-1.3%), Fisher & Paykel (-1.2%), Mainfreight (-0.8%), and Hallenstein Glasson (-0.8%).