New Zealand shares advanced, pushing the NZX 50 Index to a new record, led by children’s clothing retailer Pumpkin Patch which posted a return to annual profit following a loss the previous year as it restructures its business. The NZX 50 rose 17.206 points, or 0.361 percent, to 4,782.679. Within the index, 22 stocks rose, 20 fell and eight were …

Postie Plus, the retailer whose shares are the worst performer on the NZX this year, plunged deeper into the red after its poorly executed outsourcing deal for a distribution centre in Mangere disrupted the business, and has left it relying on its banks to keep it cash-flow positive. The Auckland-based retailer’s loss widened to $11.6 million, or 29.12 cents per …

The New Zealand dollar is heading for a 1 percent weekly decline as investors stay glued to US economic data after the Federal Reserve put plans to taper its monetary stimulus programme on hold. The kiwi traded at 82.90 US cents at 5pm in Wellington from 83.71 cents at the Monday open. It was up from 82.75 cents at 8am …