First NZ Air NZ target price 19%, lowers rating to 'underperform'
By Rebecca Howard June 2 (BusinessDesk) - First NZ Capital lifted its 12-month target price on Air New Zealand to $2.50 from $2.10 but lowered its rating to 'underperform' from 'neutral' based on its updated valuation and current share price. The shares last traded down 2.3...
Clearance rates remain low at weekly wool auctions
By Rebecca Howard June 2 (BusinessDesk) - New Zealand's wool market remained weak at the latest South Island auction as tepid off-shore interest and the stronger New Zealand dollar weighed on clearance. Of the 8,065 bales offered 65 percent cleared, back further on the seas...
Carbon markets unfazed by news Trump pulls out of Paris deal, traders say
By Rebecca Howard June 2 (BusinessDesk) - Carbon markets in Europe and in New Zealand are taking news the US will put out of the Paris Agreement in their stride as countries around the world reaffirm their commitment to the accord. In a widely expected outcome, US Preside...
NZ dollar outshines Aussie as China data weighs across Tasman
By Rebecca Howard June 1 (BusinessDesk) - The New Zealand dollar touched a fresh four-month high against its Australian counterpart after the Aussie was weighed by China's Caixin manufacturing performance index. The kiwi traded at 95.60 Australian cents at 5pm in Wellingto...
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