New Zealand Shares Rise Amid Hopes of US-Iran Peace Talks; Chorus Says Q3 Fibre Connections Rise to 1.1 Million

MT Newswires Live

Apr 15

New Zealand shares ended higher on Wednesday as most Asian markets saw gains amid hopes of continued US-Iran peace talks.

The S&P/NZX 50 Index gained 0.46% or 59.32 points to close at 13,076.58.

Peace talks to end the US-Iran war could resume over the next two days in Pakistan, said US President Donald Trump on Tuesday, according to a Tuesday Reuters report.

"The impressive price action in risk assets suggests markets are keen to look through the immediate impact of the Middle East conflict," said Tony Sycamore, an analyst at IG, as quoted by Reuters in a separate report.

In domestic news, a total of 2,869 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) pulse auction held Tuesday, with supply ranging from 2,550 MT to 3,000 MT, according to data from the trading platform.

In corporate news, Chorus (ASX:CNU) said fibre connections grew by 13,000 in the fiscal third quarter to 1.1 million, up from a gain of 7,000 in the fiscal second quarter.

Ryman Healthcare (ASX:RYM, NZE:RYM) reported 331 occupation right agreement (ORA) sales in the fiscal fourth quarter, up 10% from 302 a year earlier.

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