New Zealand Shares Rise; Downer EDI Buys Back Nearly 168,000 Ordinary Shares

MT Newswires Live
05/22

New Zealand shares ended higher on Friday as Asian markets saw gains amid hopes for an end to the US-Iran conflict.

The S&P/NZX 50 Index rose 0.88% or 113.24 points to close at 12,991.31.

While the US and Iran stuck to their opposing stances over Iran's uranium stockpile and the control of the Strait of Hormuz, US Secretary of ​State Marco Rubio said there had been "some good signs" in negotiations with Iran, according to a Thursday Reuters report.

In domestic news, the total volume of seasonally adjusted retail sales in New Zealand reached NZ$26.04 billion in the March quarter, up 0.9% from NZ$25.81 billion in the December 2025 quarter, according to data from Stats NZ.

Also, New Zealand's retail sales data for the March quarter is indicative of "decent growth" in gross domestic product for the period, but likely not as strong as the central bank's 1.1% estimate issued in February, the Bank of New Zealand (BNZ) said in a report.

Further, New Zealand's total vehicle registrations were 4.6 million in April, a decrease of 28,966 from the previous month, covering both six and 12-month licensing periods, data from Stats NZ showed.

In corporate news, Scott Technology (NZE:SCT) said that Chief Financial Officer Mark O'Malley is set to resign effective July 3.

Downer EDI (ASX:DOW, NZE:DOW) repurchased 167,787 ordinary shares on Thursday for AU$1.3 million in total as part of an on-market buyback.

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