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The New Zealand dollar held yesterday’s gains after a surprise rise in December inflation heightened expectations the Reserve Bank might hike interest rates as early as next week and as the latest Fonterra Cooperative Group dairy auction showed an increase in prices. The kiwi traded at 83.09 US cents at 8am from 83.21 cents yesterday, holding on to most of …

After a long weekend, Wall Street returned with a sombre mood as the earnings outlook from companies including Johnson & Johnson and Verizon failed to justify current valuations. Shares of Johnson & Johnson dropped, last 2 percent weaker, after its earnings outlook fell short of expectations. The outlook reflects “some level of conservatism-in line with historical guidance-given still seemingly weak …

New Zealand shares rose to a two-month high, led by retailer Hallenstein Glasson, extending its rally from a four-year low as investors went bargain hunting. The NZX 50 Index advanced 31.175 points, or about 0.6 percent, to 4921.671, the highest close since Nov. 14. Within the index, 31 stocks rose, 12 fell and seven were unchanged. Turnover was $75 million. …

New Zealand inflation unexpectedly edged higher in the final three months of 2013, led by more expensive airfares, housing and dairy prices. The consumers price index increased 0.1 percent in the three months ended Dec. 31, slowing from a quarterly increase of 0.9 percent, according to Statistics New Zealand. That was against a forecast decline of 0.1 percent in a …

New Zealand stock market was mixed, as the Wellington Anniversary holiday thinned out trading, as Hallenstein Glasson rebounded and Tower slipped after shedding rights to its February dividend. The NZX 50 Index fell 3.451 points, or about 0.07percent, to 4890.496. Within the index, 16 fell, 25 stocks rose and nine were unchanged. Turnover was a lighter-than-usual $66.8 million with fewer …

Auckland house prices remained “severely unaffordable” for the 10th year in a row in the American survey, Demographia, which compares housing costs in nine mainly English-speaking countries. Produced by Wendell Cox, an Illinois-based opponent of urban planning and proponent of private cars over public transport and Christchurch-based urban planner Hugh Pavletich, the Demographia report contends that restrictive urban planning is …

The New Zealand dollar looks likely to fall this week as investors consider how local inflation and housing figures will feed into the Reserve Bank’s interest rate outlook, ahead of next week’s policy review. The local currency may trade between 81.20 US cents and 84.20 cents this week, according to a BusinessDesk survey of six traders and strategists. Four predict …

New Zealand confidence rose in the final quarter of 2013 to its second highest reading in the last two years, but optimism about wage growth slumped to its lowest in 18 months. The Westpac McDermott Milller Employment Confidence Index rose to 103.4 in the fourth quarter from 102.8 from the prior quarter, in the scale where 100 separates optimists from …

The New Zealand dollar fell as fears over China’s financial sector re-emerged on reports a troubled trust product won’t be bailed out, ahead of economic data which is expected to show the world’s second-biggest economy is still growing, albeit at a slower pace. The kiwi fell to 82.46 US cents at 8am from 82.62 cents at the close of trading …

The New Zealand dollar climbed to a new eight-year high against its trans-Tasman counterpart after weak Australian jobs data highlighted the divergent interest rate outlooks between the neighbouring economies. The kiwi rose as high as 94.80 Australian cents, trading at 94.72 cents at 8am from 94.45 cents yesterday. The local currency increased to 83.44 US cents from 83.29 cents yesterday. …