New Zealand Shares Drop on Consumer Pessimism; Ebos Group Falls 3% After Appointing New CFO

New Zealand shares capped off the week with losses on Friday following a report showing consumers becoming more pessimistic in April.

The S&P/NZX 50 Index fell 1.18% or 141.34 points to close at 11,805.09.

The ANZ-Roy Morgan New Zealand consumer confidence index fell four points to 82.1 in April, hovering above pandemic lows but is near the lows seen during the global financial crisis.

The number of consumers expecting prices to rise in the next two years slid to 4.4% during the reported month from 4.5% in March. Those expecting housing prices to increase during the same time period rose to 3.5% from 3.4% month on month.

On the corporate front, shares of Ebos Group EBO closed 3% lower in New Zealand, after the Australasian healthcare, medical and pharmaceutical products company announced the appointment of Alistair Gray as its new CFO. Gray succeeds Leonard Hansen who will transition to chief risk officer.