The Australian and New Zealand dollars fell after a measure of manufacturing in China grew at a slower-than-expected pace this month, stoking concerns that the world’s second-biggest economy is stumbling and global expansion is more muted. The HSBC Flash Purchasing Managers Index fell to 50.5 in April from 51.6 in March, missing estimates in a Bloomberg survey of 51.5. The …

New Zealand’s largest insurance group, IAG, has slightly improved its underlying profit margins on insurance products while passing on a doubling in the cost global reinsurance because of the Canterbury earthquakes. In a presentation for investors in Sydney, IAG’s New Zealand chief Jacki Johnson said reinsurance costs had risen to 15 percent of gross written premiums (GWP) in the first …

Technical issues at NZX have kept investors in the dark with no market announcements being published on the stock exchange operator’s website and Reuters and Bloomberg services not showing trading action. The stock exchange hasn’t published any new market announcements on its public website today, due to technical issues though trading is open, an NZX spokeswoman said. It was unclear …