New Zealand shares closed higher on Monday, while Asian markets were mixed as investors digested developments in the global oil supply.
The S&P/NZX 50 gained 0.6%, or 78.27 points, to close at 13,827.62.
US President Donald Trump said that Russia agreed to supply diesel to the global market, and US temporarily lifted its sanctions on Russian oil, according to a Friday Reuters report.
In domestic news, New Zealand residential property values fell an average of 1.5% nationally in the three months to the end of September, a slight easing from the 1.9% quarterly decline reported a month earlier, according to a report by QV.
Also, the Infometrics-Foodstuffs New Zealand Grocery Supplier Cost Index increased 1.9% year on year in September, maintaining the same rate of annual growth for the third consecutive month.
In company news, Westpac Banking (NZE:WBC, ASX:WBC) is pursuing an overhaul of its risk, institutional banking, and finance staff that will impact 174 positions, Australia’s Finance Sector Union said Oct. 9.
Summerset Group Holdings (NZE:SUM, ASX:SNZ) sold 415 occupation rights in the third quarter ended Sept. 30, down from 420 occupation rights a year earlier.
Source: au.finance.yahoo.com
