New Zealand Shares Rise; Scott Technology CFO to Resign
New Zealand shares ended higher on Thursday as Asian markets saw gains after Nvidia results beat estimates and some vessels finally passed through the Strait of Hormuz.The S&P/NZX 50 Index rose 0.92% or 117.04 points to close at 12,878.07.Three supertankers were crossing the Strait of Hormuz on Wednesday, via a transit route that Iran has ordered ships to use, Reuters reported on Wednesday, citing shipping data on LSEG and Kpler.NVIDIA reported fiscal first-quarter revenue above Wall Street's estimates as data center sales outperformed expectations amid an artificial intelligence boom.In domestic news, New Zealand recorded a goods trade surplus of NZ$1.92 billion in April, compared with a surplus of NZ$430.2 million in March, Stats NZ data showed.Further, credit card spending in New Zealand decreased by 0.3% month on month to NZ$4.28 billion in April after a 0.7% increase in the previous month, while credit card balances fell 1.1% to NZ$5.96 billion in April, data from the Reserve Bank of New Zealand showed.Also, New Zealand businesses' annual inflation expectations rose for the short term but eased over the longer horizon, according to a survey published by the Reserve Bank of New Zealand.In corporate news, Scott Technology (NZE:SCT) said that Chief Financial Officer Mark O'Malley decided to resign effective July 3.TruScreen Group (NZE:TRU, ASX:TRU) on Thursday launched a capital raise of about NZ$2.9 million.