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New Zealand shares fell, paced by Fletcher Building, while Diligent Board member Services and Wynyard Group led gains among companies favoured for their growth outlook. The NZX 50 Index fell 5.693 points, or 0.1 percent, to 4759.625. Within the index, 21 stocks fell, 22 rose and seven were unchanged. Turnover was $76 million, the most since before the Christmas-New Year …

The New Zealand dollar pared gains in local trading after figures showed Australian exports were flat in November, disappointing investors who were hoping for growth. The kiwi traded at 82.60 US cents at 5pm in Wellington from 83 cents at 8am and little changed from 82.56 cents yesterday. The trade-weighted index was little changed at 78.18 from 78.14. Australia’s trade …

Shell New Zealand and its joint venture partners OMV New Zealand and Mitsui E&P Australia are to drill an exploration well in the Great South Basin, off the South Island’s southeast coast, in a move the energy industry hopes will create ‘the next Taranaki.’ Shell, the operating partner, may begin drilling in 2016. The partners have an interest in two …

Wynyard Group shares climbed to a record after the intelligence software developer announced its latest contract win in the Middle East. The stock rose as high as $1.38 and recently traded at $1.36, up 14 percent on the day. It’s rated a ‘hold’ by two analyst recommendations compiled by Reuters, with a median target price of $1.40. United Arab Emirates …

The Court of Appeal has tossed out a bid by a group of former Reserve Bank senior managers, including ex-assistant governor David Archer, to top-up their pensions, and upheld an earlier Employment Court ruling. In a Dec. 17 judgment, Justices Rhys Harrison, Douglas White and Forrest Miller dismissed an appeal by the former RBNZ senior staffers which would have forced …

PowerbyProxi, the wireless power developer spun out of Auckland University, has agreed to license its technology to Texas Instruments, allowing the world’s largest analogue chipmaker to add new wireless power and charging products. “Texas Instruments is recognised as the leading supplier of wired and wireless power solutions and respected across consumer electronics devices, industrial systems and battery management,” PowerbyProxi chief …

The value of equities on the NZX rose 24 percent in December from a year earlier to reach 37.8 percent of gross domestic product helped by the listing of $7.5 billion of new capital and a rally in prices that extended from 2012. The market value of equity on the NZX rose to $82.2 billion last month while the value …

The New Zealand dollar advanced after weaker-than-expected economic data in the US tempered expectations over how fast the Federal Reserve may start unwinding its monetary stimulus programme. The kiwi rose to 83 US cents at 8am in Wellington, from 82.56 cents at 5pm yesterday. The trade-weighted index increased to 78.41 from 78.14 yesterday. The US dollar index, which measures the …

Wall Street dropped after disappointing data for the US services industry illustrated that the road to recovery in the world’s largest economy has some potholes. The Institute for Supply Management’s non-manufacturing index slid to 53 in December from 53.9 in November, surprising economists, who had called for an acceleration in the rate of growth. “We think the economy is on …

Pernod Ricard’s New Zealand unit posted its smallest annual loss since 2009 after ending three years of substantial writedowns. The New Zealand holding company, Millstream Equities, narrowed its loss to $9.6 million in the 12 months ended June 30, from $182.3 million, making it the smallest deficit in four years. The Pernod Ricard unit wrote off about $270 million of …