New Zealand shares rose on Friday's close on cooling US inflation, giving investors hope for upcoming rate cuts.
The S&P/NZX 50 Index rose 0.64% or 76.68 points to close at 12,134.97.
The US Consumer Price index slid 0.1% in June compared with May and rose 3.0% in the 12 months ended in the same month, Reuters reported.
The CPI read was lower than economists' expectations of a 0.1% rise month on month and a 3.1% increase year on year, the report added.
On the domestic front, Business NZ's Performance of Manufacturing index saw record contraction in June, falling to 41.1 in June, the third lowest for a non-COVID-19 related lockdown month.
The sector has been contracting for 15 months in a row, sparking a major concern, said BusinessNZ director for advocacy Catherine Beard.
Further, New Zealand's electronic card retail transactions on a seasonally adjusted basis slid 0.6% in June to NZ$6.39 billion from NZ$6.43 billion in May, while spending in the core retail industries edged lower by 0.1% month on month, Stats NZ reported.
In the June quarter, retail spending decreased 3.7% on a seasonally adjusted basis, while spending in core retail fell 2.3% compared with the March quarter.
In corporate news, CDL Investments New Zealand's (NZE:CDI) wholly-owned subsidiary, CDL Land New Zealand, signed a deal to acquire 10.1 hectares of land in Christchurch for NZ$17.1 million to develop an industrial precinct. Its shares rose 4% on market close.
Infrastructure company Infratil (ASX:IFT, NZE:IFT) closed its non-underwritten retail share offer to raise a total of NZ$275 million as part of a wider NZ$1.28 billion equity raise. Shares slid 2% on close.
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