Asia
New Zealand Shares Flat; KMD Brands Secures NZ$11 Million in Retail Entitlement Offer Completion
New Zealand shares ended flat on Tuesday despite a broad-based rise in Asian shares as investors showed optimism around the US-Iran peace talks.The S&P/NZX 50 Index was little changed to close at 12,932.33.Iran is considering attending peace negotiations with the US in Pakistan, while Islamabad attempts to end a US blockade on Iranian ports, which is seen as a key obstacle to Tehran's participation, before a two-week ceasefire expires, Reuters said in a separate report, citing a senior Iranian official.Meanwhile, New Zealand Prime Minister Christopher Luxon said on Tuesday he had the backing of National Party lawmakers after holding a leadership confidence vote, following days of speculation that some within the party were pushing to replace him, according to a Tuesday Reuters report.In domestic news, Business confidence in New Zealand declined in the March quarter, as the US-Israel war with Iran fanned fuel prices and caused supply-chain disruptions amid worsening uncertainty around the Strait of Hormuz, the New Zealand Institute of Economic Research (NZIER) said.Meanwhile, New Zealand's annual consumer inflation increased by 3.1% in the March quarter, unchanged from the 3.1% increase in the 12 months to the December 2025 quarter, data from Stats NZ showed.Also, New Zealand consumer prices rose 0.9% in the March quarter, with the annual inflation rate remaining unchanged at 3.1%, resulting in this quarter's inflation going above the previously anticipated 0.7% rise, Westpac said in a report.In corporate news, KMD Brands (ASX:KMD, NZE:KMD) has completed the retail component of its fully underwritten 1-for-0.73 accelerated renounceable entitlement offer, with eligible shareholders subscribing for around 182.6 million new shares at NZ$0.06 each, raising about NZ$11 million as part of a total NZ$58.5 million capital raising.Black Pearl Group (ASX:BPG, NZE:BPG) reported fiscal fourth quarter annual recurring revenue (ARR) of NZ$26.8 million, up 114% year on year.
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