New Zealand shares tumbled on Thursday after Russian President Vladimir Putin ordered a military operation in Ukraine which may be the beginning of a full-scale invasion.

New Zealand’s central bank today increased the official cash rate to 1% and signalled it would likely climb to 3.5% in the next three years.

New Zealand shares fell on Tuesday as Russia recognised two Ukrainian regions as independent states, which has been interpreted as creating an excuse for an invasion.

A2 Milk’s improved outlook helped New Zealand’s benchmark equity index eke out a small gain, even as other stocks fell on fears of a possible war in Ukraine.

New Zealand's headline share index followed global markets lower as investors lost their optimistic view that Russia might be backing away from the Ukrainian border.

New Zealand's sharemarket continued to rally with strong earnings results, and less focus on geopolitics, alluring buyers into the market.

Fletcher Building led the local market higher after beating earnings expectations, while global indices rallied on the perception Russia may be walking back its Ukraine threat.

New Zealand's headline share index dipped in concert with global markets which have generally been weaker over fears of monetary policy changes and a possible Russian invasion of Ukraine.

KiwiSaver funds emphasising responsible investing were the top performers in the December quarter, according to the latest Morningstar report.

New Zealand shares took another downward turn after data released in the United States showed inflation was still running hot and could trigger a 50-basis point rate hike by the US Federal Reserve in March.

New Zealand's main share index edged lower on Thursday as earnings season kicked off with a strong result from Vulcan Steel, with some larger stocks weighing on the benchmark.

Software stocks led New Zealand shares higher on Wednesday after the US Nasdaq Index rose 1% overnight as its technology stocks stabilised.

New Zealand’s benchmark equity index finished Tuesday almost unchanged despite some tourism stocks jumping after Australia announced it would fully reopen its borders this month.

New Zealand's main share index fell with global equities as shares in Facebook owner Meta dropped 25% and central banks in Europe started tightening monetary policy.

Travel stocks rose higher in local trading as the government announced it would begin to reopen the borders, although omicron still threatens to disrupt the sector.

New Zealand's sharemarket lifted almost 2% on Wednesday as the benchmark equity index continues to bounce back from the worst start to the year since 2008.