New Zealand Shares Rise; New Zealand King Salmon Investments Reports Profit for Fiscal H1
New Zealand shares ended higher on Tuesday while Asian stocks were mixed amid new US strikes against Iran.The S&P/NZX 50 Index rose 0.77% or 99.46 points to close at 13,069.74.The US on Monday launched strikes on southern Iran on targets including boats allegedly laying mines and missile launch sites, describing the operations as defensive measures, according to a Monday Reuters report."The market wants to believe that it's all going to end soon, because the war not ending is quite bad for the world economy. The world economy's had these buffers of running down inventories, but you can't keep running down inventories," said Commonwealth Bank of Australia Strategist Joseph Capurso, as quoted by Reuters.In domestic news, total new residential mortgage lending in New Zealand fell to NZ$7.99 billion in April from NZ$9.5 billion in March, according to data from the Reserve Bank of New Zealand.In corporate news, New Zealand King Salmon Investments (NZE:NZK, ASX:NZK) reported Tuesday fiscal first-half earnings of NZ$0.03 per share.Radius Residential Care (NZE:RAD) completed its purchase of the Karori care home in Wellington.