NZ dollar holds above 65 US cents; dairy auction prices mixed

NZ dollar holds above 65 US cents; dairy auction prices mixed
Gavin Evans
The New Zealand dollar held its ground above 65 US cents with improved milk powder prices helping offset increasing global trade concerns. The kiwi was trading at 65.15 US cents at 8am, up from 65.06 cents at 5pm but down from the overnight high of 65.33 cents. The trade-weighted index was at 72.07 from 72.01. Milk powder prices edged higher at the latest Global Dairy Trade auction overnight, although weaker butter prices brought the overall index down 0.5 percent – its first decline since early September. Whole milk powder, already at...

More Markets

Meridian reports increased sales and higher prices
Markets

Meridian reports increased sales and higher prices

Net profit after tax was $ 191 million, $10m or 5% down on the same period last year.

Spark reports profit drop of 4.8%
Markets

Spark reports profit drop of 4.8%

But telco has reaffirmed its full-year guidance. 

PGG Wrightson CEO: OCR hike would hurt rural sector confidence
Finance

PGG Wrightson CEO: OCR hike would hurt rural sector confidence

The company suspended its interim dividend, worrying about adding debt if rates go up.

NZ stocks ease while speculation swirls around Fletcher Building
Markets Market close

NZ stocks ease while speculation swirls around Fletcher Building

The S&P/NZX50 index ended at 11,694.60, down 15.29 points.

Jamie Gray 27 Feb 2024