New Zealand shares rose on Monday as the US and China confirmed positive trade negotiations in Switzerland.
The S&P/NZX 50 Index rose 71.68 points or 0.57% to close at 12,676.75.
China's Vice Commerce Minister Li Chenggang said the upcoming announcement from the trade talks will be "good news for the world," according to a Reuters report.
Meanwhile, global conflicts seemed to be easing as Ukraine's Zelenskiy said he was ready to meet Putin in Turkey for talks, while India and Pakistan agreed to a ceasefire.
On the local macroeconomic front, The Reserve Bank of New Zealand (RBNZ) is "well-placed" to offset the impact of the projected lower discretionary fiscal spending on aggregate demand as the effect of the government's fiscal consolidation is likely to be limited at the macroeconomic level, ANZ Research said in a budget preview report on Monday.
Moreover, New Zealand's seasonally adjusted volume of ready-mixed concrete rose 1.4% in the March quarter, following a 4.6% fall in the preceding three-month period, Stats NZ data showed Monday.
In corporate news, EBOS Group (NZE:EBO) said its up to NZ$54 million retail offer closed oversubscribed.
Summerset Group Holdings (NZE:SUM, ASX:SNZ) rolled out a NZ$100 million offer of fixed-rate retail bond maturing on May 23, 2031.
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