The New Zealand dollar gained in volatile markets after Russian policymakers hiked interest rates to shore up a tumbling ruble and European data beat expectations, sapping demand for the US dollar ahead of the Christmas and New Year holiday period The kiwi rose to 77.85 US cents at 8am in Wellington from 77.45 cents yesterday. The trade-weighted index advanced to 78.23 …

Equities on Wall Street and in Europe rose as investors found value in beaten-down stocks including energy shares such as Chevron and Nabors Industries. Shares of Chevron gained 2.6 percent, while those of Nabors soared 6.6 percent. Oil stemmed its slide, at least for now. West Texas Intermediate for January delivery rose 1.5 percent to US$56.74 a barrel on the …

Dairy product prices rose in the latest GlobalDairyTrade auction, propelled by a jump in anhydrous milk fat and butter. The GDT average winning price rose 2.4 percent to US$2,609, up from US$2,513, the lowest level since August 2009, two weeks ago. Some 35,390 tonnes of product was sold, down from 39,273 tonnes of product two weeks ago. Even so, the AgriHQ …