FINWIRES · TerminalLIVE
FINWIRES

New Zealand Shares Fall; Vector to Retain Ownership of Fibre Business Following Strategic Review

By

New Zealand shares ended lower on Tuesday as investors questioned the durability of the Middle East ceasefire.

The S&P/NZX 50 Index fell 0.56% or 73.84 points to close at 13,170.71.

The New Zealand exchange was closed for trading on Monday.

Lebanon on Monday declared a partial ceasefire between Hezbollah and Israel, but hostilities continued on Monday evening in southern Lebanon, according to a Monday Reuters report.

In domestic news, New Zealand's highly concentrated grocery industry saw only minor observable change in core competition metrics over the course of 2025, with the country's top grocery retailers maintaining a combined market share of 82%, New Zealand's Commerce Commission said.

In corporate news, Vector (NZE:VCT) decided to retain ownership of its Fibre business following a strategic review.

Infratil (NZE:IFT, ASX:IFT) launched an offer of up to NZ$150 million of unsecured, subordinated capital bonds due 2057 to investors in New Zealand.

Related Articles

Asia

Joincare Pharmaceutical Extends Employee Stock Ownership Plan

Joincare Pharmaceutical (SHA:600380) extended its second-phase business partner stock ownership plan by 12 months to June 7, 2027.The plan holds 6.3 million shares, or 0.33% of the pharmaceutical company's total share capital, according to a Tuesday filing with the Shanghai bourse.Shares of Joincare Pharmaceutical were down 1% in recent trade.

$SHA:600380
Asia

Bharat Petroleum-Linked Consortium Signs Pact to Build Floating Production Storage and Offloading Unit in Brazil

Petrobras, operator of the BM-SEAL-11 consortium, of which Bharat Petroleum (NSE:BPCL, BOM:500547) is a part, has signed a contract for the construction of a floating production storage and offloading (FPSO) unit in Brazil, according to a Tuesday filing to the Indian stock exchanges.The FPSO will be built by SBM Offshore for the SEAP-I project in Brazil, which includes the development of oil and gas discovered in BM-SEAL-11 and BM-SEAL-10 concessions. The FPSO will have an installed capacity to process 120,000 barrels of oil/condensate per day and 10 million m³ of gas per day.Bharat Petroleum, through its subsidiaries, holds a 65.4% stake in IBV Brasil Petroleo, which in turn, holds 40% participating interest in the BM Seal 11 concession. IBV's total investment in the project is estimated at around $2.8 billion, subject to Government of India approvals.Under the contract, SBM Offshore will design, build, and operate the FPSO for an initial period of six and a half years, through a separate operation and maintenance contract.

$BOM:500547$NSE:BPCL
Asia

Wesfarmers Well-Positioned to Take Share in Current Market Background, Jarden Says

Wesfarmers (ASX:WES) is well-positioned to take share in the current market backdrop, further supported by scale and digital, Jarden said in a note on Monday.It also expects positive earnings-per-share consensus revisions, underpinned by updated near-term lithium price forecasts.Wesfarmers is executing well and has a clear plan within the existing corporate envelope. In the medium term, there is a material opportunity for it to become the leading customer-facing business in Australia across health, consumables, goods, and energy, although this will require time and money, per the note.The investment firm retained its neutral rating on Wesfarmers and raised the price target to AU$75.30 per share from AU$74.50 per share.

$ASX:WES