MARKET CLOSE: NZ shares rise as Fletcher lifts from slump, A2 gains, Fonterra falls
By Jonathan Underhill March 21 (BusinessDesk) - New Zealand shares rose as Fletcher Building made up some ground after yesterday's downgrade-induced slump, while A2 Milk and Goodman Property Trust gained. Fonterra Shareholders' Fund fell ahead of its first-half results tomorro...
Capacity constraints in construction sector driving 'massive' price escalation
By Jonathan Underhill March 21 (BusinessDesk) - Capacity constraints in Auckland's construction sector have been driving up building costs by more than four times the rate of inflation in recent years, eroding margins for companies locked into fixed-price contracts. John Da...
NZ dollar gains vs pound after UK PM May sets date for start of Brexit process
By Jonathan Underhill March 21 (BusinessDesk) - The New Zealand dollar rose against the British pound after UK Prime Minister Theresa May announced the date she will trigger Article 50 that puts in motion her nation's departure from the European Union. The kiwi rose to 57.0...
NZ Shareholders Assn seeks answers on Fletcher downgrade, questions CEO's ability
By Jonathan Underhill March 20 (BusinessDesk) - The New Zealand Shareholders Association says Fletcher Building's announcement of a $110 million downgrade to full-year earnings guidance leaves investors with a lack of detailed answers and raises questions about chief executive...
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