The New Zealand dollar held gains in local trading after weak US industrial production sapped demand for the greenback, and ahead of an upcoming dairy auction, which will offer a gauge on New Zealand’s biggest commodity export. The local currency traded at 81.62 US cents at 5pm in Wellington from 81.72 cents at 8am, up from 81.26 cents yesterday. The trade-weighted …

New Zealand shares fell, led by Summerset Group Holdings, as the prospect of new rivals weighed on listed retirement village operators. Stocks with regulatory pressure, such as Air New Zealand, Chorus and energy companies fell amid political uncertainty ahead of Saturday’s general election. The NZX 50 Index fell 21.075 points, or 0.4 percent, to 5189.785. Within the index, 31 stocks …

Warehouse Group faces a year of reckoning as investors await evidence that New Zealand’s largest listed retailer will get a return on the hundreds of millions of dollars spent overhauling stores and buying new businesses in the past couple of years. Under chief executive Mark Powell, Warehouse has outlaid $115.8 million in capital expenditure on its iconic ‘red shed’ general merchandise …