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New Zealand shares rose as intelligence software firm Wynyard Group rallied for a second day, leading gains among tech stocks perceived to have strong growth prospects, including Xero, SLI Systems, Snakk Media and GeoOp. The NZX 50 Index gained 20.179 points, or 0.4 percent, to 4779.804. Within the index, 26 stocks rose, 19 fell and five were unchanged. Turnover was …

Shares in Wynyard Group soared to a new record on optimism about the global growth prospects for the company’s intelligence software. Wynyard shares jumped 11 percent to $1.48, adding to their 12 percent rise yesterday after the Auckland-based company announced it had gained the United Arab Emirates money exchange GCC Exchange as a client for its anti-money laundering software. Wynyard …

Toll Holdings’ New Zealand unit recognized a provision of almost $22.9 million in its dispute with the Inland Revenue Department over its use of convertible notes in 2013, a year that saw its annual loss widen by 69 percent as it wrote down the value of its Express Logistics acquisition. The Australian logistics group, which competes locally with NZX-listed Mainfreight, …

Auckland’s average house price rose to a record in December as property values benefited from a lack of supply heading into the peak summer season. The average sale price rose to $700,387 in December, from $684,646 in November and $624,015 in December 2012, according to realtor Barfoot & Thompson. The median price rose 1.2 percent from November to $629,000 and …

Yellow, the directories business seized by its bankers in 2011, is confident it will continue to comply with its debt covenants after gaining waivers for 2014 and will be able to refinance some $414 million of debt due next year. NZ Directories Holdings, which owns the Yellow business, narrowed its net loss of $12.5 million in the year ended June …

Summerset Group, whose shares have made more than three times the gains of the NZX 50 Index in the past 12 months, said sales of occupation rights jumped 50 percent in the fourth quarter from a year earlier. The retirement village operator had 60 new sales and 51 resales in the final three months of 2013, up from 43 and …

OceanaGold Corp, the Melbourne-based mining group, plans to scale back its operations and shed staff at the Macraes goldfield in Otago in response to a falling gold price, and has flagged smaller production and an impairment charge in 2014. The mining group’s board has signed off on a plan to cut costs at Macraes, which has been operating for 23 …

The New Zealand dollar rose to a three-week high against the Australian dollar overnight as investors bet the fundamentals for the kiwi are more favourable than for its Australian counterpart this year. The kiwi touched 92.98 Australian cents overnight and was trading at 92.76 cents at 8am in Wellington, from 92.50 cents at 5pm yesterday. The local currency edged up …

Equities and bonds advanced as a larger-than-expected drop in the US trade deficit bolstered optimism about the accelerating pace of growth in the world’s largest economy, while a Federal Reserve official recommended maintaining a high level of stimulus. The US trade deficit narrowed more than expected in November, shrinking 12.9 percent to US$34.3 billion, Commerce Department data showed. “The report …

Dairy product prices fell in the first GlobalDairyTrade auction for 2014, led by skim milk powder while rennet casein made a new record high. academic essay service The GDT Price Index dropped 0.8 percent compared to the last sale two weeks ago. The average winning price was US$4,943 a tonne, still an elevated level, from US$4,990 a tonne. Skim milk …