FX.co ★ NZX 50 Muted but Points to Weekly Losses

On Friday, the NZX 50 showed minimal movement, hovering around 12,806 as trading commenced, following modest increases the previous day. Market participants are focused on the evolving US tariff situation, particularly concerning potential agreements with the EU and forthcoming trade discussions with China slated for Stockholm next week. Additionally, investors are anticipating the release of US employment figures for further insights into economic trends, alongside manufacturing PMI reports from both the US and China. Attention is also directed towards the US markets, where key corporations are releasing their quarterly earnings. On the home front, business confidence figures for July are expected next week, following a positive uptick in June, the first rise in four months. Within the market, advances in the financial and healthcare sectors counterbalanced declines in technology and industrial stocks. Highlighting individual performances, Colonial Motors increased by 1.9%, F&C Investment rose by 0.4%, and Freightways Group saw an uplift of 0.5%. Conversely, Gentrack Group and Auckland International Airport experienced declines of 1.9% and 0.8%, respectively. Overall, the index is on track for a 0.6% drop for the week, following gains in the preceding week.