New Zealand shares and dollar stay steady after inconclusive election

New Zealand shares edged lower and the New Zealand dollar rose slightly on November 9, the first trading day after Saturday’s election produced no clear winner. The S&P/NZX 50 closed down 0.18% as investors awaited the final vote count, according to nzherald.co.nz.

The index closed at 13,973.62, down 24.88 points, after dipping to 13,988.4 in the afternoon. The New Zealand dollar rose to US55.92 cents and gained against the Australian dollar, reaching A81 cents. NZ Herald described the currency as remaining at a low level.

• The main board recorded 70 gainers and 68 decliners.
• A total of 25.1 million shares worth NZ$91.4 million changed hands, in lighter trading.
• The final election tally was scheduled for November 27, with nearly 400,000 special votes still to be counted.

How New Zealand markets traded after the election

AFP reported that preliminary results gave the National Party the most seats, with a combined majority of just two alongside coalition partners NZ First and ACT. The nearly 400,000 special votes included about 100,000 cast overseas or by people voting outside their local electorates. AFP said such votes had historically leaned left. Christopher Luxon said National had a mandate and a pathway to form a government, while acknowledging the count remained close.

Bloomberg reported that National had 42 seats in the preliminary count, six fewer than before, while ACT and NZ First had gained six seats between them to reach 25. Those results could still shift as special votes were counted.

Company results and forecasts shaped the session

Among New Zealand-listed companies, Fisher & Paykel Healthcare fell 47 cents to NZ$47.98. Mainfreight lost 49 cents to NZ$67.01 ahead of its half-year result, expected that week. Pacific Edge dropped 1.5 cents, or 5.08%, to 28 cents, and Napier Port fell 8 cents, or 2.2%, to NZ$3.55.

Ventia Services fell NZ$1.43, or 19.51%, to NZ$5.90 after telling the market that second-half revenue in the 2026 financial year was expected to be lower than in the previous corresponding period, citing challenging conditions in telecommunications and energy. Spark rose 2 cents to NZ$2.10 and confirmed its FY2027 guidance at operating earnings of NZ$1.016 billion to NZ$1.08 billion and a total dividend of 16 to 18 cents at its Friday annual meeting. Allied Farmers gained 1 cent to 60.5 cents after saying it would sell two Waikato farms to the current tenant and receive NZ$2 million after secured lending was repaid at settlement.

What the election count means for investors

ASB said the next government’s composition would be very different even if a right bloc returned to office, while the policy implications remained uncertain. ANZ said National and Labour had campaigned on similar fiscal strategies and committed to the same operating and capital allowances for upcoming budgets. The final votes were scheduled to be announced on November 27.