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New Zealand shares ended lower on Tuesday ahead of nuclear negotiations scheduled for later in the day between the US and Iran.
The S&P/NZX 50 index fell 0.66% or 86.29 points to close at 13,031.62.
US President Donald Trump said on Monday he would be involved “indirectly” in high-stakes negotiations between the United States and Iran over Tehran’s nuclear program, scheduled for Tuesday in Geneva, adding that he believed Iran was keen to reach an agreement, Reuters reported Tuesday.
US markets were closed on Monday due to a public holiday.
In domestic news, food prices in New Zealand rose 4.6% on an annual basis in January, compared with a 4% increase in the 12 months to December 2025, according to a Stats NZ selected price indexes report.
Also, New Zealand’s selected price indexes for January suggested some downside risk to the first quarter consumer price index forecast of a 0.6% quarter-over-quarter rise, according to a report by ANZ Research.
Further, New Zealand businesses’ annual inflation expectations rose for the short term but eased over the longer horizon, while wage growth and unemployment forecasts showed modest increases, reflecting a cautiously mixed economic outlook, according to a survey published by the Reserve Bank.
In corporate news, Santana Minerals (ASX:SMI, NZE:SMI) received firm commitments to raise AU$130 million through the placement of about 144.4 million shares at AU$0.90 apiece.
Air New Zealand (ASX:AIZ, NZE:AIR) and US-based Beta Technologies completed their four-month Next Generation Aircraft Technical Demonstrator program, giving insights into the performance of electric propulsion aircraft.