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Mainfreight (MFT.NZ) shares rose 3.39% to NZ$61.00 as technical indicators turn bullish ahead of the May 28 FY26 earnings release. Despite margin pressure in the first half, analysts maintain a 'Buy' consensus with a NZ$73.24 price target.
The ASX 200 ended its longest losing streak since 2018 on May 1, 2026, rising 0.74% to 8,729.80 points as BHP and Rio Tinto led a materials sector recovery.
Australia's annual inflation rate jumped to 4.6% in March 2026, driven by a record 32.8% surge in fuel prices following the closure of the Strait of Hormuz. Markets now expect a 76% chance of an RBA rate hike in May.
New Zealand's annual inflation rate remained at 3.1% in the March 2026 quarter, exceeding the RBNZ’s target band and market expectations. Rising electricity and local rates continue to drive domestic costs.
Woolworths Group reported Q3 sales of A$18.10 billion, beating expectations, but shares dropped nearly 10% as the company warned that rising fuel costs and geopolitical tensions will impact profit margins.
New Zealand business confidence plummeted to -10.6 in April 2026, a 43-point swing from March, as Middle East conflict and fuel supply disruptions trigger a sharp cost shock.