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New Zealand Shares Fall Tracking Wall Street Losses; Santana Minerals Raises Around AU$4.1 Million Via Share Purchase Plan

MT Newswires Live03-20 12:49

New Zealand shares closed lower on Friday as Asian markets tracked losses from Wall Street's Thursday trading session.

The S&P/NZX 50 Index fell 0.5% or 61.62 points to close at 13,989.99.

On Thursday, the S&P 500 and the Nasdaq Composite lost 0.3%, while the Dow Jones fell 0.4%.

In domestic news, New Zealand recorded a goods trade deficit of NZ$257.5 million in February, compared with a deficit of NZ$626.8 million in January, Stats NZ data showed.

Further, New Zealand's total vehicle registrations were 4.7 million in February, a decrease of 19,668 from the previous month, covering both six and 12-month licensing periods, data from Stats NZ showed.

Meanwhile, New Zealand job ads have been gaining momentum with a further month-on-month increase of 0.9% in February compared with 1.1% in January, according to a BNZ-Seek report.

Also, credit card spending in New Zealand decreased by 1.4% month on month to NZ$4.25 billion in February after a 1.5% increase in the previous month, while credit card balances fell 0.1% to NZ$6.19 billion in February, data from the Reserve Bank of New Zealand showed.

In corporate news, Santana Minerals (ASX:SMI, NZE:SMI) said its share purchase plan was completed, raising around AU$4.1 million.

Genesis Energy (ASX:GNE, NZE:GNE) completed its NZ$300 million 1-for-7.9 pro-rata renounceable rights offer, securing strong investor backing with nearly 81% uptake, including participation from the New Zealand government, which maintains its 51% majority stake.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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