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New Zealand Shares Rise; Pacific Edge Launches NZ$24 Million Capital Raise

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New Zealand shares ended marginally higher on Monday amid investors' worries of a prolonged US-Iran conflict.

The S&P/NZX 50 Index rose 0.27% or 35.35 points to close at 13,210.48.

US President Donald Trump rejected Iran's response to a US peace proposal, sending oil prices sharply higher on Monday, as fears grew that the conflict would continue and keep shipping through the Strait of Hormuz at a standstill, according to a Monday Reuters report.

Brent oil price rose to about $105 per barrel in recent Monday trade.

In domestic news, supplier costs for food supermarkets in New Zealand rose 2% on average in April from a year earlier, marking a continued slowdown in the pace of increases from recent months, Infometrics said in a report.

In corporate news, Pacific Edge (ASX:PEB, NZE:PEB) launched a capital raising of up to NZ$24 million comprising an NZ$18 million institutional placement and a NZ$6 million retail offer at NZ$0.17 per share.

Chorus' (NZE:CNU, ASX:CNU) website showed internet outages impacting parts of New Zealand early on Monday, concentrated in and around the Auckland area.

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