11.10.202622:54:04UTC+00New Zealand Stocks Start the Week Muted

The NZX 50 was little changed around 13,745 in Monday morning trade, pausing after gains in the previous two sessions. Strength in energy and healthcare was largely offset by weakness in technology, utilities, and consumer staples.

Investors continued to track the escalating conflict in the Middle East and its impact on oil prices, amid persistent concerns about inflation. Caution also increased ahead of the release of New Zealand food inflation figures and business PMI data later this week.

Markets were likewise focused on upcoming US inflation data for signals on the Federal Reserve’s next interest rate decision, as well as China’s September CPI and PPI readings, set against a backdrop of subdued domestic demand and higher oil prices.

Meanwhile, US stock futures were little changed after Wall Street notched a winning week, with investors bracing for the inflation print and a busy stretch of corporate earnings.

Among local movers, Ebos Group advanced 2.1%, Colonial Motor added 1.4%, and Freightways Group rose 0.9%. In contrast, Fletcher Building and A2 Milk edged down 0.9% and 0.8%, respectively.