Sharemarket analysts are expecting a slew of profit upgrades and new commentary from stock exchange-listed exporters in the upcoming earnings season following the recent slump in the value of the New Zealand dollar, says Andrew Bascand, the managing director of Wellington-based funds manager Harbour Asset Management. Among likely beneficiaries are businesses such as Fisher & Paykel Healthcare, Nuplex Industries, Xero …

The National Party has lost more than 10 percent of its support in two months, as measured by the New Zealand arm of Australian pollster Roy Morgan, to run neck and neck at 45 percent support, with its coalition partners, against a combination of the Labour and Green parties for the first time since five months before last September’s general election. Labour and the Greens …

Wall Street is set to sustain recent gains after the Nasdaq closed at a record high on Friday, amid better-than-expected earnings from companies including Google, and US Federal Reserve chair Janet Yellen’s comments that rate increases will be moderate. IBM, Microsoft, Apple, Yahoo and Morgan Stanley are among the companies scheduled to release their latest earnings in the coming days. “We’re …

The sharp Kiwi economist who’s done some of the best analytics in the New Zealand/China economic relationship is contemplating a switch to running a business. NZ INC. hopes Shamubeel Eaqub stays engaged in the China space. There’s plenty of contentious issues on the table right now that could do with indepth analysis. Businessdesk earlier reported: Outspoken economist Shamubeel Eaqub is …

A slump in the price of whole milk powder, New Zealand’s key dairy export, is likely to continue according to traders who are pricing in further declines on the NZX futures market. The price for whole milk powder dropped 13.1 percent to an average US$1,848 a tonne at the latest GlobalDairyTrade auction overnight on Wednesday as many of the monthly contracts failed …

New Zealand wool prices rose at the latest auction as a decline in the local currency made it more attractive for overseas buyers. The price for clean 35-micron wool, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand’s production, rose to $5.90 per kilogram at yesterday’s South Island auction, from $5.75/kg in last week’s …

 New Zealand export log prices were unchanged this month amid uncertainty about the outlook for China’s economy. The average wharf gate price for New Zealand A-grade logs held at $86 a tonne in July from June, according to AgriHQ’s monthly survey of exporters, forest owners and sawmillers. The AgriHQ Log Price Indicator, which measures average log prices weighted by grade, fell …

Weaker dairy prices have prompted analysts to pull back their expectations for Fonterra Cooperative Group’s payout to farmers this season, with most now expecting this year’s payout will be below last year’s, which is likely to put pressure on farm incomes and see debt levels rise. The price for whole milk powder, New Zealand’s key commodity export, dropped 13 percent …

Dairy product prices sank in the latest GlobalDairyTrade auction, paced by cheddar and whole milk powder, reflecting a sombre outlook. The GDT average winning prices sank 10.7 percent to US$2,082, down from US$2,276 at the previous auction two weeks ago. It was the lowest level since July 2009. Some 31,691 tonnes of product was sold, down from 33,200 tonnes of …

Wall Street fell, along with European equities, amid concern about the persistent fire-sale of Chinese stocks and the outlook for the Asian nation’s economy. A 5.9 percent slump in the Shanghai Composite Index Wednesday brought its plunge since June 12 to 32 percent, according to Bloomberg. “The China selloff is spooking the markets,” Tim Ghriskey, chief investment officer of Solaris Group …