NZX50 nudges higher as US-Iran ceasefire optimism wanes

New Zealand’s S&P/NZX 50 index kept its head above water in a softer day across Asia as the fragility of the US-Iran ceasefire remains on display ahead of peace talks this weekend, with higher oil prices weighing on the likes of Air New Zealand and Tourism Holdings.

Heavyweights Infratil and Fisher & Paykel Healthcare buoyed the benchmark index, while tech companies Serko and Eroad followed a positive lead from Wall Street overnight, with Gentrack an outlier as the utilities software developer dipped.

Vista Group International gained after Forsyth Barr analysts raised their target price on the cinema analytics firm with a strong box office this year expected to help the sluggish recovery in movie ticket sales.

And economic bellwether Freightways declined after the ANZ’s latest Truckometer gauge showed a decline in light traffic movements in March, while heavy traffic edged up in the month.