MightyRiverPower shares will list on the NZX at 12.30pm this Friday at $2.50 a share, in the middle of the $2.25 to $2.80 range announced when the MRP prospectus was released last month. Some 113,000 New Zealanders, about a quarter of the 440,000 who registered interest in the shares, have bought a slice of the state-controlled electricity generator and retailer, …

New Zealand stocks rose, pushing the NZX 50 Index to a new record, as investors welcomed Fisher & Paykel Healthcare’s continued release on new products and the Reserve Bank said it had intervened in the currency market to try to force the kiwi down. The NZX 50 rose 18.55 points, or 0.4 percent, to 4640.27. Within the index, 23 stocks …

The New Zealand dollar dropped to a two-week low after the Reserve Bank confirmed its first intervention in currency markets for six years, and after it took a shot at the country’s bubbling property market. The kiwi fell as low as 83.62 US cents, trading at 8397 cents at 5pm from 84.55 cents at 8am and 84.94 cents yesterday. The …