NZX50 dips amid choppy Middle East peace talks

New Zealand’s S&P/NZX 50 index dipped in the first day of the week as tensions persisted through US and Iran peace negotiations, ultimately making progress for further discussions despite President Donald Trump’s threatening strikes if Hezbollah continued attacking Israel.

The energy sector was the biggest drag on the local bourse, with Meridian Energy, Mercury NZ and Vector weighing on the index, joining their Australian sector peers as oil prices eased.

Local software firms Gentrack, Serko and Vista Group International joined the sell-off across Australasia, with WiseTech Global slumping on news that founder and executive chair Richard White was being investigated by Australian federal police.

Meanwhile, Fletcher Building hit a three-month high as its streamlined business found favour among investors and a2 Milk Co advanced after securing Chinese registration for two products at its Pōkeno site paved the way for a special dividend.