New Zealand shares cautiously gain on conflicting Mideast remarks

Fletcher Building

19/04/2026 23:34

April 20 (Reuters) - New Zealand shares rose on Monday, as investors deal with conflicting messages about the Iran war and news that the Strait of Hormuz was closed again.

The S&P/NZX 50 index .NZ50 rose 0.6% to 12,978.88 points in early trade. The benchmark fell 2.1% last week, its worst weekly decline since March 9.

Fletcher Building FBU.NZ rose 1.1% after bagging approval from the New Zealand Overseas Investment Office for the sale of Fletcher Construction to VINCI Construction.

 (Reporting by Nichiket Sunil in Bengaluru; Editing by Lisa Shumaker)

 ((Nichiket.Sunil@thomsonreuters.com;))

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