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MARKET CLOSE: NZ shares fall from record; Z Energy drops on placement
Paul McBeth | Fri, 03 May 2019

By Paul McBeth May 3 (BusinessDesk) - New Zealand shares fell from a record as investors took advantage of the recent gains. Z Energy dropped on an unusually large volume of trading.  The S&P/NZX 50 Index declined 27.67 points, or 0.3 percent, to 10,058. Within the index, 2...

NZ dollar climbs a little on poor Australian housing data
Jenny Ruth | Fri, 03 May 2019

By Jenny Ruth May 3 (BusinessDesk) - The New Zealand dollar firmed slightly after further bad news about Australia’s housing market but ended down on the week as investors bet on the chance of a rate cut. The kiwi was trading at 66.22 US cents at 5pm in Wellington from 66.1...

NZ dollar falters ahead of next week's domestic rate decision
Rebecca Howard | Thu, 02 May 2019

By Rebecca Howard May 3 (BusinessDesk) - The New Zealand was weaker ahead of next week’s domestic policy review and as investors pare back expectations of any rate cut in the United States. The kiwi was trading at 66.15 at 9am in Wellington versus 66.31 US cents at 5pm in W...

MARKET CLOSE: NZ shares gain as investors welcome Z's dividend view; Trade Me departs
Paul McBeth | Thu, 02 May 2019

By Paul McBeth May 2 (BusinessDesk) - New Zealand shares rose as investors welcomed greater clarity on Z Energy's dividend intentions in the first local result of the latest reporting season. Index reweightings from Trade Me Group's pending departure were also a feature. Th...

NZ dollar firms a little; traders still eyeing an OCR cut
Jenny Ruth | Thu, 02 May 2019

By Jenny Ruth May 2 (BusinessDesk) - The New Zealand dollar recovered some of the ground lost after the US Federal Reserve appeared to take a rate cut off the table - but it is probably headed lower. The kiwi was trading at 66.31 US cents at 5pm in Wellington from 66.19 at...

Alliance expects African swine fever to support meat prices
Rebecca Howard | Thu, 02 May 2019

By Rebecca Howard May 2 (BusinessDesk) - Red meat cooperative Alliance Group said meat prices are strong as the African swine fever outbreak decimates Chinese pork production. Chief executive David Surveyor says meat prices are "generally quite solid at the moment" due to t...

Auckland house sales dip as Easter holiday saps activity in April
Paul McBeth | Wed, 01 May 2019

By Paul McBeth May 2 (BusinessDesk) - Auckland realtor Barfoot & Thompson says activity slowed last month in the country's biggest city due to the Easter and Anzac Day holidays, although sale prices were largely flat.  The city's biggest realtor sold 667 properties in April...

Z Energy FY earnings fall 13% on refinery outage, crude price hike
Gavin Evans | Wed, 01 May 2019

By Gavin Evans May 2 (BusinessDesk) -  Z Energy reported a 13 percent decline in full-year net profit after an extended outage at the Marsden Point refinery raised its costs and record pump prices reduced sales volumes industry-wide. The country’s biggest fuel retailer said...

NZ dollar falls after Fed talks up US economy, says inflation may be transient
Rebecca Howard | Wed, 01 May 2019

By Rebecca Howard May 2 (BusinessDesk) - The New Zealand dollar fell after upbeat comments from Federal Reserve Chairman Jerome Powell pushed the prospect of a US rate cut off the table. The kiwi was at 66.19 at 8am in Wellington versus 66.50 at 5pm yesterday. The trade-wei...

MARKET CLOSE: NZ shares fall on profit warnings; King Salmon flounders
Paul McBeth | Wed, 01 May 2019

By Paul McBeth May 1 (BusinessDesk) - New Zealand shares sank as muted earnings guidance from SkyCity Entertainment Group and A2 Milk didn't meet investors' expectations. New Zealand King Salmon shed almost a fifth of its value as warmer water left it with more dead fish. ...

NZ dollar falls on weaker-than-expected jobs data
Jenny Ruth | Wed, 01 May 2019

By Jenny Ruth May 1 (BusinessDesk) - The New Zealand dollar fell on perceived weakness in March-quarter jobs data, even though the unemployment rate of 4.2 percent was bang on expectations. The kiwi was trading at 66.50 US cents at 5pm in Wellington, off the day’s low at 66...

Ebos' board, managers should hang their heads in shame: NZSA
Jenny Ruth | Wed, 01 May 2019

By Jenny Ruth May 1 (BusinessDesk) - Ebos' board and managers should hang their heads in shame for cutting retail shareholders out of its discounted capital raising, which clearly wasn't urgent, says outgoing New Zealand Shareholders’ Association chair John Hawkins. The iss...


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