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NZ dollar falls on concern weaker Chinese growth will dent demand for commodities

The New Zealand dollar fell alongside the Australian and Canadian dollars on concern slowing growth in China would reduce demand for the countries’ commodities. The kiwi slipped to 81.28 US cents at 8am in Wellington, from 81.56 cents at 5pm yesterday, while the Australian dollar fell to 88.75 US cents from 89.35 cents, and the Canadian dollar dropped to 90.64 US cents …

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While you were sleeping: US home sales drop

Equities on both sides of the Atlantic declined, along with commodities including nickel, copper, and oil after an unexpected drop in US existing home sales and comments by China suggesting it might not aim to bolster economic growth as much as expected. In late afternoon trading in New York, the Dow Jones Industrial Average fell 0.43 percent, the Standard & …

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MARKET CLOSE: NZ shares soar on election result, led by MRP

New Zealand shares jumped, led by MightyRiverPower, after the National Party’s convincing election victory on the weekend wiped out any regulatory fears for the power companies. Meridian Energy, Genesis Energy and Contact Energy paced gains. The NZX 50 Index advanced 54.947 points, or 1.1 percent, to 5236.292. Within the index, 27 stocks rose, 13 fell and 10 were unchanged. Turnover …

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