First NZ cuts Michael Hill earnings forecast after weak sales
By Paul McBeth Oct. 16 (BusinessDesk) - First NZ Capital expects to see weaker earnings at Michael Hill International but says there is still potential for the share price to rise. Michael Hill yesterday reported an 8.8 percent slide in September sales to A$112.2 million a...
NZ dollar gains as rising inflation may create tension for RBNZ
By Paul McBeth Oct. 16 (BusinessDesk) - The New Zealand dollar rose ahead of inflation data today which is expected to show rising consumer prices and may make it harder for the Reserve Bank to talk up rate cuts. The kiwi increased to 65.47 US cents as at 8am in Wellington...
MARKET CLOSE: NZ shares dip as Fletcher gives up pursuit of Steel & Tube
By Paul McBeth Oct. 15 (BusinessDesk) - New Zealand shares dipped, outperforming many Asian markets, as Fletcher Building aborted its pursuit of Steel & Tube Holdings after its increased offer wasn't warmly embraced by the target. The S&P/NZX 50 index declined 5.17 points,...
Salt Funds to open up carbon trading to retail investors in NZX-listed fund
By Paul McBeth Oct. 15 (BusinessDesk) - Salt Funds Management plans to list a dedicated carbon fund, opening up the green commodity directly for retail investors. Salt's Carbon Fund is expected to be 98 percent invested in carbon commodities, with 2 percent held in cash an...
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