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New Zealand Shares Fall; AFT Pharmaceuticals Appoints CFO

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New Zealand shares ended lower on Monday as all Asian shares saw losses after fresh drone attacks in the Gulf region.

The S&P/NZX 50 Index fell 1.56% or 202.09 points to close at 12,762.92.

A drone strike caused a fire in a nuclear power plant in the United Arab Emirates on Sunday, while Saudi Arabia said it intercepted three drones, according to a Sunday report by Reuters.

In domestic news, New Zealand's services sector showed a modest improvement in April but remained in contraction, with persistent cost pressures and global shipping disruptions continuing to weigh on sentiment, according to a statement by BusinessNZ.

In corporate news, AFT Pharmaceuticals (ASX:AFP, NZE:AFT) appointed Stuart Houliston as chief financial officer, effective June 15.

Gentrack Group (NZE:GTK, ASX:GTK) acquired New Zealand software-as-a-service company Prospero Energy, trading as Factor, in a deal valued at NZ$24 million.

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