Stocks on both sides of the Atlantic dropped as concern about Europe’s political and financial instability returned, and Wall Street’s five-year highs left investors with vertigo in the absence of signs to justify current valuations. The latest American economic report also disappointed. Orders to US factories advanced 1.8 percent in December after a revised 0.3 percent slide the prior month, …

New Zealand shares rose, pushing the NZX 50 Index back toward its five-year highs, led by PGG Wrightson and NZ Oil & Gas as commodity prices rose and investors continued to be drawn to the relatively attractive dividend yields. The NZX 50 gained 0.46 points, or 0.01 percent, to 4246.40, edging back to the five-year high 4252.65 reached on Jan. …

The New Zealand dollar rose to a 2 ½-year high against the Australian dollar before the Reserve Bank of Australia’s monetary policy review tomorrow, while largely ignoring Prime Minister John Key’s comment that the kiwi is overvalued against the greenback. The kiwi rose as high as 81.39 Australian cents, the highest since July 2010, and traded at 81.10 Australian cents …