Business confidence held at a three-year high in the second quarter as domestic trading activity eased, according to the latest Quarterly Survey of Business Opinion from the New Zealand Institute of Economic Research. A net 31 percent of businesses remained optimistic in June, seasonally adjusted, unchanged from the March quarter, the institute said. Last quarter was the highest since March …

The New Zealand dollar gained after investors bet the greenback had advanced too far too fast following upbeat US employment numbers last week. The kiwi increased to 78.01 US cents from 77.26 cents at the 5pm market close in Wellington yesterday. The trade-weighted index advanced to 74.68 from 74.21 yesterday. The US dollar index, which measures the greenback against the …

Equities on Wall Street and in Europe gained as investors awaited the unofficial start of the US second-quarter earnings season with the results of Alcoa due after the close of the American markets. The aluminum producer is expected to report earnings of 6 US cents per share on revenue of US$5.83 billion, according to Reuters. Alcoa shares were last up …