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New Zealand Shares Flat; Fletcher Building Secure NZ$60 Million Government Deal for Golden Bay Cement

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New Zealand shares were flat on Monday despite a surge in oil prices in the wake of the escalating conflict in the Middle East.

The S&P/NZX 50 Index was little changed to close at 13,696.03.

Brent crude oil futures rose around 2% to over $90 per barrel. The US and Iran continued to trade strikes for over a week after an earlier ceasefire seemed to break down.

In domestic news, New Zealand recorded a goods trade surplus of NZ$22.7 million in June, compared with a surplus of NZ$576.8 million in May, Stats NZ data showed. Goods exports rose 25% to NZ$8.09 billion, while imports rose 28% to NZ$8.07 billion.

In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) said New Zealand's government granted its Golden Bay Cement unit up to NZ$60 million as part of an agreement to support the subsidiary's continued operations in the country.

Comvita (NZE:CVT) appointed Emma Blott as chief commercial officer, starting July 6.

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