The New Zealand dollar advanced after US economic reports raised concerns about the strength of the world’s largest economy, damping demand for the greenback. The kiwi rose to 87.28 US cents at 8am in Wellington, from 86.78 cents at 5pm yesterday. The trade-weighted index touched a high of 81.26 overnight, close to the record 81.29 reached earlier this month, and …

Wall Street advanced as investors opted to focus on signs that the US economy has picked up, increasing their bets on the outlook, even as the final reading on first-quarter GDP showed a worse-than-expected contraction. US gross domestic product shrank at a 2.9 percent annual rate, the biggest drop in five years, following a previously reported 1.0 percent decline, in …

Shares in Warehouse Group touched an 18-month low as the stock was downgraded to ‘hold’ from ‘buy’ by brokerage Craigs Investment Partners after the retailer cut its full-year earnings forecast, saying it was having to discount winter clothing and homewares because of warmer weather. Craigs analyst Chris Byrne cut his forecast for the retailer’s 2014 profit by 12 percent, the 2015 …