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New Zealand Shares Rise; Scales Reaffirms 2026 Underlying Net Profit After Tax Guidance

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New Zealand shares ended higher on Wednesday as investors digested the Reserve Bank of New Zealand's decision to hold the official cash rate steady.

The S&P/NZX 50 Index rose 1.21% or 158.07 points to close at 13,227.81.

The Reserve Bank of New Zealand's (RBNZ) monetary policy committee decided to keep the official cash rate steady at 2.25%, according to a statement.

Iran said on Tuesday that the US had breached a ceasefire by striking targets near the Strait of Hormuz, potentially complicating efforts to end the war, according to a Tuesday Reuters report.

In corporate news, Scales (NZE:SCL) reaffirmed its market guidance of an underlying net profit after tax attributable to shareholders of between NZ$50 million and NZ$55 million for the full year.

Air New Zealand (ASX:AIZ, NZE:AIR) informed customers of further flight cuts from August to October amidst a jet fuel crisis in the wake of the conflict in the Middle East, according to a report by Radio New Zealand.

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