MARKET CLOSE: NZ shares snap decline as growth stocks Tourism Holdings, A2 recover
By Paul McBeth Nov. 22 (BusinessDesk) - New Zealand shares snapped a six-day decline as a revival in global investor optimism boosted beat-up growth stocks such as Tourism Holdings, A2 Milk and Pushpay Holdings. Fletcher Building extended its decline. The NZX/S&P 50 rose 3...
Morningstar gives Trade Me takeover 50/50 odds
By Paul McBeth Nov. 22 (BusinessDesk) - Morningstar Research gives British private equity firm Apax Partners' $2.54 billion takeover tilt at Trade Me a 50/50 chance of success. The UK firm has been granted access to the local online auction site's books to undertake due di...
Stride 1H profit climbs 21% as property values rise
By Paul McBeth Nov. 22 (BusinessDesk) - Stride Property boosted first-half profit 21 percent, with the rising value of its 26 properties offsetting a dip in rental income and management fees. Net profit rose to $40.2 million in the six months ended Sept. 30 from $33.3 mill...
NZ dollar gains as Fed rumoured to slow pace of rate hikes
By Paul McBeth Nov. 22 (BusinessDesk) - The New Zealand dollar gained after a report that the Federal Reserve might stop hiking interest rates as early as March weighed on the greenback. The kiwi rose to 68.36 US cents as at 8am in Wellington from 67.96 cents yesterday. Th...
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