New Zealand shares eked out another rise as the broadly positive tone since New Year continued, with substantial volumes noted in some key stocks. The NZX50 Index was up 0.64 points, or 0.01 percent, to 4187.72. Within the index, 23 stocks rose, 14 rose and 13 were unchanged. Turnover was $ 133.213 million. “There seems to be some reasonable volume …

The New Zealand dollar firmed against the Australian dollar after a weaker-than-expected inflation report increased the chances of a an official interest rate cut by the Reserve Bank of Australia. The kiwi was at 79.78 Australian cents at 5pm, up from 79.53 Australian cents at 8am. The aussie dollar weakened on news that the headline consumers price index rose 0.2 …

A $40 million government procurement deal to supply wallboard for the Christchurch rebuild is being used as a way to inject competition into New Zealand’s high-cost home building market. With home affordability a hot political issue, and lack of competition for building supplies identified as a key issue by a Productivity Commission report, the government has announced it will split …

Mortgage applications rose nearly 20 percent in December from a year ago and people are also taking out more personal loans, in what personal credit rating agency Veda says proves the economy is recovering. Veda sees 98 percent of all credit applications and says it sees evidence of a revitalised credit cycle and indicates New Zealanders are increasingly confident about …

The government is setting up a fund to play a “bridging role” for investments in regional water storage and irrigation projects to facilitate private investment. A yet-to-be-named Crown-owned company will take minority stakes in water projects with a long-term goal of getting out and leaving the projects to the private sector. While the government hopes to “get our money back”, …

An Auckland foreign exchange trader is facing 15 charges of theft, dishonesty and false statements ina case involving the alleged misappropriation of $837,046 for personal use and mis-statement of clients’ financial positions by some $4 million. The circumstances of the charges, lodged by the Serious Fraud Office in the Auckland District Court, bear similarities to the Financial Markets Authority swoop …

Comvita, which uses produces health products from manuka honey and olive leaves, has bought an 85 hectare organic olive estate with potential to expand its production of olive leaf extracts by 130 percent over the next five years. The price paid for Organic Olives (Aust) by Comvita’s Australian subsidiary is undisclosed. The estate comprises some 7,000 certified organic olive trees, …

The New Zealand dollar is firmer ahead of Australian inflation data and after the Bank of Japan came out with an open-ended stimulus programme. The kiwi was at 84.04 US cents at 8am, up from 83.99 cents at 5pm yesterday. It fell to 74.51 yen, from 75.17 yen at 5.20pm on Tuesday after the Bank of Japan disclosed monetary policy …

Wall Street advanced amid optimism that quarterly corporate earnings will continue to surpass modest expectations. Shares of Freeport McMoRan, Travelers Cos and DuPont received a boost from their results that bettered expectations, rising 5.1 percent, 2.8 percent and 1.8 percent respectively. Johnson & Johnson, however, failed to deliver, and shares were last 0.6 percent lower. So far, 73 percent of …

New Zealand stocks eased slightly until a late rally, in line with cautious sentiment across the Asian region ahead of a crucial Bank of Japan decision to loosen monetary policy, announced just before 5pm local time. The NZX50 Index rose 1.90 points, or 0.45 percent, to 4,187.082. Within the index, 27 stocks rose, 16 fell and seven were unchanged. Turnover …