New Zealand shares fell after Fonterra Cooperative Group unexpectedly cut its forecast dividends and earnings for 2014, while the high kiwi against the Australian dollar weighed on companies such as Ebos Group with businesses across the Tasman. The NZX 50 Index fell 2.202 points, or 0.05 percent, to 4704.304. Within the index, 22 stocks fell, 23 rose and five were …

Synlait Milk, the milk processor which joined the NZX in July, says earnings will beat guidance next year on cheaper raw milk prices and growing demand for its products. That contrasts with Fonterra Cooperative Group, which today slashed its guidance in the face of a margin squeeze. International demand is favouring Synlait’s milk powder and anhydrous milk fat products, while …

The New Zealand dollar fell after dairy exporter Fonterra Cooperative Group surprised investors by keeping its forecast payout to farmers unchanged and as traders await the Reserve Bank’s policy statement, which is expected to keep interest rates at a record low. The kiwi dropped to 82.78 US cents at 5pm in Wellington from 83.11 cents at 8am, little changed from …