NZ Sharemarket Down 0.9% Following Strong Overseas Sell-offs

The New Zealand sharemarket, down nearly 1% yesterday, followed strong overseas sell-offs, with AI-linked stocks cooling, but it did gain support from Ebos Group and a2 Milk. The S&P/NZX 50 Index fell sharply at the opening following the plunge on Wall Street over the weekend (NZ time) and closed at 13,038.24, down 123.73 points or 0.94%. There were 92 decliners and 40 gainers on the main board, and trading was lighter on 26.2 million shares worth $93.7m.

Ebos Group increased 39c or 1.94% to $20.60, and Fisher & Paykel Healthcare was up 8c to $37.26. A2 Milk gained 21c or 3.32% to $6.53. On Wall Street, the S&P 500 and Nasdaq Composite had their biggest one-day falls in more than a year, dating back to the introduction of tariffs, after declines of 2.64% to 7,383.754 points and 4.18% to 25,709.43, respectively. The Dow Jones Industrial Average was down 1.35% to 50,866.78 points, and the Philadelphia Semiconductor Index slumped 10.26%, after doubling over the past two months. One commentator said: “What began as a sector-specific re-pricing of semiconductor expectations evolved into a broader risk-off session as the jobs report arrived and transformed the macro backdrop simultaneously.” The US May nonfarm payrolls rose by 172,000 – more than double the Dow Jones consensus of 80,000 and completing the strongest three-month advance in more than two years. Unemployment was steady at 4.3%.

Offshore, the Japanese Nikkei 225 had fallen 4.2% (at 6pm NZ time), the Hong Kong Hang Seng was down 1.86%; Taiwanese Taiex was down 3.48%, and the South Korean Kospi had declined 6.45%.  The Australian market was closed for King’s Birthday.

At home, Infratil was down 19c to $15.23: Mainfreight declined $1.21 or 1.91% to $62; Freightways shed 47c or 3.44% to $13.20; Auckland International Airport eased 21c or 2.52% to $8.12; and Fletcher Building decreased 6c or 1.94% to $3.03. The energy sector, which has risen 12% since the start of the US-Iran conflict in late February, compared with a 5% fall in the NZX50, was weaker. Mercury was down 16c or 2.27% to $6.90; and Meridian and Genesis declined 16c or 2.37% to $5.77 and 7c or 2.65% to $2.57, respectively. Contact was down 12c to $9.48.

Technology stocks Vista declined 9c or 4.05% to $2.13; Serko was down 4c or 2.63% to $1.48; and Eroad gained 2.5c or 2.34% to $1.09. Synlait Milk was up 1.5c or 3.61% to 43c after organising a new $130m, two-year loan with Bright Dairy International Investment – Bright is a majority shareholder – as part of refinancing its senior syndicated bank facilities that mature on June 30. Synlait reported a net loss of $12m for the four months ending April after “facing a number of headwinds outside its control”. The result included a gain from the sale of the Pokeno production plant, and net assets were $720.8m.

Steel & Tube, up 0.005c to 37.5c, has renewed its ANZ banking arrangements to September next year on similar terms, and reported that headwinds have returned with trading conditions remaining variable and demand for steel softening. The company had an improved first quarter ending March with increased revenue and volumes and a return to positive normalised earnings.

Channel Infrastructure, down 7c or 2.24% to $3.06, told the market that its 93m litres of diesel storage capacity at Marsden Point for the Government was now in service and provided nine further days of diesel demand coverage. Ryman Healthcare, up 3c to $2.28, has opened a $100m, six-year bond offer with the option to accept an additional $50m. The offer closes on Thursday.

Source: Business Desk

Ahead of the local open SPI futures were 94 points lower at 8533.

Local markets were closed on Monday 08 June 2026 due to public holiday.

Companies commencing Ex-Dividend Trading Today (ASX 300):

Infratil Limited

[Morningstar with Dow Jones]:

U.S. stocks ended mixed. The DJIA fell 0.2% to 50,786.01, the S&P 500 lifted 0.3% to 7,405.73 and the Nasdaq rose 0.9% to 25,929.66.

Among S&P 500 companies, the top three gainers were Intel Corp INTC surging 11.11%, Micron Technology Inc MU jumped 9.89%, and KLA Corp KLAC lifted 9.27%.

The biggest decliners were Akamai Technologies Inc AKAM which dropped 4.99%, The Hershey Co HSY fell 4.70%, and Ciena Corp CIEN lost 4.41%.

Asia

Chinese shares closed lower. The benchmark Shanghai Composite Index declined 1.7% to 3,959.34 and the Shenzhen Composite Index slipped 3.1% to 2,677.21.

Hong Kong shares ended lower. The benchmark Hang Seng Index dropped 1.2% to 24,657.06.

Japanese shares ended lower. The Nikkei Stock Average slipped 3.8% to 64,024.60.

India shares ended lower. The BSE SENSEX fell 1% to 73,524.26.

Europe

Stocks in the U.K. finished flat. The FTSE 100 Index was unchanged at 10,373.20. In Europe, shares closed lower. The Germany's DAX slipped 0.6% to 24,616.22, and the France's CAC 40 dropped 0.2% to 8,199.29