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New Zealand Shares Rise; Santana Volunteers Pause in New Zealand Gold Project Fast-Track Approvals Process to Provide Additional Information

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New Zealand shares closed higher on Thursday as investors reacted to oil prices reaching pre-war levels amid tankers transiting through the Strait of Hormuz.

The S&P/NZX 50 Index advanced 0.69%, or 92.39 points, to close at 13,493.05.

Brent crude oil futures fell to around $72 per barrel. Gold fell below $4,000 for the first time since November 2025.

In domestic news, total new residential mortgage lending in New Zealand rose to NZ$8.63 billion in May from NZ$7.99 billion in April, according to data from the Reserve Bank of New Zealand.

In corporate news, Santana Minerals (ASX:SMI, NZE:SMI) decided to volunteer a pause period to provide additional data and reports, as well as provide time to workshop conditions with the regulators regarding the fast-track approvals process for the Bendigo-Ophir gold project in New Zealand's South Island.

Fletcher Building (NZE:FBU, ASX:FBU) said that Moody's Investors Service confirmed that the ratings firm withdrew its Fletcher Building credit rating effective Thursday.

a2 Milk (NZE:ATM, ASX:A2M) declared a fully franked special dividend of NZ$0.41355 per share, payable on July 24 to shareholders on record as of July 9.

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