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New Zealand Shares Reach All-Time High; Spark New Zealand Starts Review of Digital Services Division

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New Zealand shares rose to their all-time high as most Asian markets saw gains amid a pause in the Middle East conflict.

The S&P/NZX 50 Index rose 0.57% or 78.40 points to close at an all-time high of 13,850.69.

Iran said it would halt its attacks if the United States did the same, Reuters reported on Sunday, citing a senior Iranian official, as Washington paused its bombing campaign after advisers warned Trump that viable targets were dwindling and raised concerns about straining the US arsenal.

On the domestic front, total new residential mortgage lending in New Zealand fell to NZ$8.45 billion in June from NZ$8.63 billion in May, according to data from the Reserve Bank of New Zealand.

In corporate news, Spark New Zealand (ASX:SPK, NZE:SPK) started a strategic review of its Digital Services division.

Meridian Energy (ASX:MEZ, NZE:MEL) has received approval to develop the 110 megawatt Morrinsville Solar Farm in Waikato, with around 230,000 solar panels expected to generate up to 200 gigawatt-hours of renewable electricity annually, enough to power more than 25,000 homes.

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