{"id":630403,"date":"2026-10-14T13:38:10","date_gmt":"2026-10-14T13:38:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/630403\/"},"modified":"2026-10-14T13:38:10","modified_gmt":"2026-10-14T13:38:10","slug":"nzx-50-gains-as-bond-yields-fall-and-housing-market-weakens","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/630403\/","title":{"rendered":"NZX 50 gains as bond yields fall and housing market weakens"},"content":{"rendered":"The US 10 Year Treasury Note yield has also fallen below 5.3% to 5.206%.<\/p>\n
The REINZ House Price Index fell 0.3% in September. <\/p>\n
ANZ said the market has weakened over recent months, shifting from broadly flat prices earlier in the year to persistent small price declines.<\/p>\n
Prices are declining across most of the North Island, and the previous upward trend in prices in the South Island has slowed. <\/p>\n
Sales volume remained soft and days to sell remain elevated, showing buyer demand is subdued.<\/p>\n
The ANZ said rising interest rates appear to be the main driver of the slowdown, though uncertainty about the election and the broader economic outlook has likely contributed.<\/p>\n
The New Zealand population continues to increase, with latest Stats NZ numbers showing an August net migration gain of 2200 and an increase of 20,500 for the 12 months to August, compared with a gain of 9200 in the previous year.<\/p>\n
The provisional yearly net migration gain of 20,500 was made up of a gain of 58,800 non-New Zealand citizens and a migration loss of 38,200 New Zealand citizens.<\/p>\n
Annual net migration peaked in the October 2023 year, with a gain of 133,700, and annual migrant departures peaked at 120,500 in the March 2025 year.<\/p>\n
Koreman-Smit said \u201cif you go back to the start of 2025, there was concern that the net population growth was going to be negative. We are now heading for a net migration gain of 20,000-30,000 on an annual basis\u201d.<\/p>\n
The US markets were flat after the first batch of third-quarter results from Goldman Sachs, JP Morgan and Wells Fargo.<\/p>\n
One commentator said these banks reported strong numbers \u2013 it\u2019s just that expectations were high, and higher expectations are a risk for companies across the board during the current earnings season.<\/p>\n
Across the Tasman, the S&P\/ASX 200 Index was down 0.7% to 8722.6 points at 6pm NZ time, while the Japanese Nikkei 225 and Kospi Index had recovered with gains of 0.89% and 1.08% respectively.<\/p>\n
At home, Fonterra Co-operative increased 35c or 6.8% to $5.50; Vista Group gained 7c or 2.52% to $2.85; Investore added 4c or 4.08% to $1.02; and Hallenstein Glasson collected 25c or 1.7% to $14.99.<\/p>\n
There was some profit-taking with market leader Fisher & Paykel Healthcare, which was down 10c to $48.70 on trade worth $30.63m.<\/p>\n
Mercury Energy was down 9c to $6.69 after reporting a strong first quarter with a trading margin of $445m, up 19% on the previous corresponding period.<\/p>\n
Generation volume was up 26GWh to 2526GWh, with new wind and geothermal generation increasing 307GWh and offset by lower hydro volumes, down 332GWh or 24%.<\/p>\n
Mercury said it was on track to deliver its full-year 2027 operating earnings (ebitdaf) guidance of $1.075 billion.<\/p>\n
Elsewhere in the energy sector, Contact gained 15c or 1.78% to $8.60; Vector increased 16c or 3.47% to $4.77; and Genesis was up 5c or 2.07% to $2.46.<\/p>\n
Fletcher Building, unchanged at $3.35, reported a solid first quarter of the 2027 financial year, with sales volumes ahead of the previous corresponding period in most business units.<\/p>\n
The exception was pipelines, with volumes lower in its Iplex business as customers worked through stock purchased ahead of earlier price increases.<\/p>\n
Fletcher said it expected minimal contribution from the residential and development division in the half-year earnings, as conditions remained challenging.<\/p>\n
Koreman-Smit said Fletcher\u2019s quarterly volumes were reasonably solid but the residential home sales were terrible on \u201crising interest rates, and that\u2019s why its outlook statement was cautious\u201d.<\/p>\n
Other decliners were Infratil down 18c to $13.18; Briscoe decreasing 10c or 2.28% to $4.28; PGG Wrightson shedding 6c or 2.71% to $2.15; AFT Pharmaceuticals falling 10c or 2.18% to $4.49; and NZME down 2c or 1.92% to $1.02.<\/p>\n
Promisia Healthcare, up 0.005c to 67.5c, confirmed its full-year 2027 operating earnings (ebitdaf) guidance of at least $8m. Group-wide care occupancy remained strong at 96% through the second quarter.<\/p>\n
SkyCity Entertainment Group was down 1c to 67c after securing the right to apply for two New Zealand online casino licences, with fees of $15m per licence.<\/p>\n
Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"The US 10 Year Treasury Note yield has also fallen below 5.3% to 5.206%. The REINZ House Price…\n","protected":false},"author":2,"featured_media":630404,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[13212,95,806,6867,138,156489,3592,14724,3014,13988,3339,1362,225,111,139,69,13979,1125,4499,55407,684,103448,102241,80],"class_list":["post-630403","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-13212","tag-and","tag-as","tag-bond","tag-business","tag-deterioration","tag-fall","tag-further","tag-gain","tag-gains","tag-housing","tag-made","tag-market","tag-new-zealand","tag-newzealand","tag-nz","tag-nzx","tag-sharemarket","tag-small","tag-softened","tag-there","tag-weakens","tag-yields","tag-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/630403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=630403"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/630403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/630404"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=630403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=630403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=630403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}