New Zealand Shares Slip 0.2%, Weighed by Wall Street

At 0419 GMT, the NZX-50 in New Zealand closed 0.2% lower at 11287.03, marking its second consecutive weekly loss. The benchmark index followed a weak performance from U.S. equities and remained in negative territory throughout Friday's session, although it managed to reduce its losses by the end of the day. Overall, it ended the week 0.1% lower. On Friday, utility, real estate, financial, and dairy stocks had mixed performances. Mercury NZ and Manawa Energy saw gains of 0.3% and 1.6% respectively, while Meridian Energy, the largest company on the index by market capitalization, experienced a loss of 1.2%. Westpac, on the other hand, rose by 1.7% after Barrenjoey analysts upgraded their recommendation on the bank's Australian securities to neutral from underweight. However, Heartland and ANZ, two other lenders, saw declines of 1.7% and 1.4% respectively. (EMAIL)