General
MT Newswires
1 min read
New Zealand shares ended flat with a positive bias on Tuesday as the country secured a free trade agreement with India.
The S&P/NZX 50 Index was little changed to close at 13,517.73.
New Zealand has concluded a free trade agreement with India, which eliminates and reduces tariffs on 95% of New Zealand’s exports, a Tuesday statement by Todd McClay, New Zealand’s Minister of Agriculture, Forestry, Trade and Investment, and Associate Minister of Foreign Affairs.
“This once-in-a-generation Agreement creates opportunities New Zealand exporters have never had in India. This deal is in New Zealand’s best interest and will deliver thousands of jobs and billions in additional exports,” said McClay.
In domestic news, total new residential mortgage lending in New Zealand rose to NZ$8.8 billion in November from NZ$8.36 billion in October, according to data from the Reserve Bank of New Zealand.
Further, total new residential mortgage lending in New Zealand rose to NZ$8.8 billion in November from NZ$8.36 billion in October, according to data from the Reserve Bank of New Zealand.
In corporate news, Templeton Emerging Markets Investment Trust’s (NZE:TEM) unaudited net asset value, including income, was 2.39 billion pounds sterling, or 2.4878 pounds sterling per share, as of Dec. 19.
F&C Investment Trust (NZE:FCT) said that its net assets before charges at market value and excluding income came in at 13.3367 pounds sterling per ordinary share as of Dec. 19.