\u201cThat was in line with what was happening in other parts of the world. Australia and Japan were both down, and US stock futures were pointing to a negative night on Wall Street.<\/p>\n
\u201cThe oil price also jumped up as there\u2019s little progress on the Middle East peace negotiations,\u201d Lister said.<\/p>\n
Brent Crude oil was trading at US$105.40 (NZ$177.34) a barrel at 6pm NZ time.<\/p>\n
It was reported that Iran sent a counteroffer to US negotiators, stressing the need to end the war on all fronts and to lift sanctions on Tehran. US President Donald Trump said Iran\u2019s response was totally unacceptable.<\/p>\n
ASB said the Middle East conflict has entered its 10th week, the quagmire continues, the Hormuz Strait is still closed, and the global economy remains (frustratingly) at the mercy of a room full of powerful men.<\/p>\n
Stocks generally strengthened, but movements will remain volatile as markets focus on headlines rather than substantive peace developments.<\/p>\n
Wall Street<\/p>\n
On Wall Street, the S&P 500 and Nasdaq Composite had their sixth straight positive week after climbing a further 0.84% to 7398.93 and 1.71% to 26,247.08 points respectively at the weekend NZ time \u2013 both new highs. The Dow Jones Industrial Average was steady at 49,609.16.<\/p>\n
A surprisingly strong US nonfarm payroll report \u2013 adding 115,000 jobs in April against an expected 55,000 \u2013 overshadowed geopolitical fears and kept investors heavily invested in the ongoing tech boom.<\/p>\n
Unemployment in the US was steady at 4.3%, and annual wage growth increased 3.6%. But consumer sentiment fell to a new record low on inflation worries.<\/p>\n
Over the weekend, NZ-born Rocket Lab soared 35% to a new high of US$106 after posting record first-quarter revenue and making a series of announcements \u2013 its largest ever multi-year launch contract, a US$190m hypersonic testing deal and the purchase of space robotics firm Motiv Space Systems.<\/p>\n
Across the Tasman, the S&P\/ASX 200 Index had declined 0.52% to 8699.20 points (at 6pm NZ time), weighed down by biotechnology giant CSL, which fell 17% to an 11-year low of A$99.64 (NZ$121.29) on an earnings downgrade.<\/p>\n
Lister said CSL was having a shocker of a day following the negative earnings update \u2013 two years ago, the stock was at $300, and now it\u2019s under $100, that\u2019s a fall of more than two-thirds.<\/p>\n
Local stocks<\/p>\n
At home, utilities investor Infratil resumed its strong run, gaining 69c or 4.59% to $15.73 on trade worth $24.43m; and Fletcher Building was up 9c or 3.19% to $2.91.<\/p>\n
In the energy sector, Meridian was up 9c to $5.85, and Contact was down 10c to $9.80.<\/p>\n
NZME increased 5c or 4.55% to $1.15, Sanford gained 13c to $7.98; Air NZ was up 1c or 2.35% to 43.5c; Synlait recouped 1.5c or 3.33% to 46.5c; and Blackpearl Group rebounded 1.5c or 2.08% to 73.5c.<\/p>\n
Auckland International Airport eased 10c to $8.25; Summerset shed 22c or 2.78% to $7.70; Mainfreight decreased 75c to $57.90; Vulcan Steel declined 30c or 4.58% to $6.25; and Briscoe Group was down 8c or 1.71% to $4.60.<\/p>\n
Port companies Tauranga was down 12c to $8.20; Napier decreased 9c or 2.43% to $3.62; and South Port NZ increased 31c or 4.03% to $8.T&G Global was down 5c or 2.08% to $2.35; Bremworth declined 2.5c or 3.45% to 70c; and AFT Pharmaceuticals was up 9c or 2.46% to $3.75.<\/p>\n
Cancer diagnostics company Pacific Edge, seeking to regain US Medicare funding<\/a> for its Cxbladder tests, went into a trading halt after announcing a $24m capital raise at 17c a share, comprising an $18m placement and a $6m rights offer. The stock last traded at 17.4c.<\/p>\n Pacific Edge reported full-year operating revenue of $11.5m, a 47.4% fall compared with the previous year, and a net loss of $35.7m. There was a 21.4% reduction in the US laboratory throughput to 18,784 tests, from 23,885 tests in the full-year 2025.<\/p>\n Recruitment firm Accordant Group, unchanged at 13.5c, has completed its rights offer<\/a>, raising $5m out of the $6.7m sought. The offer was underpinned by an increased contribution from the Hull Family Trust, which now has a 64.9% stake.<\/p>\n