Fonterra Cooperative Group, the world’s biggest dairy exporter, expects to pay 30 cents more to farmers per kilogram of milk solids as drought pushed up global dairy prices and the cooperative lifted first half profit by a third. The Auckland-based company will pay $5.80 per kgMS and expects to pay an annual dividend of 32 cents per share, meaning a …

Wall Street advanced as the latest US housing numbers confirmed expectations that the industry will sustain its recovery, underpinning optimism for the overall strength of the American economy. Residential real estate prices in 20 cities climbed 8.1 percent in January from the same time last year, posting the largest 12-month increase since June 2006, according to S&P/Case-Shiller data. And while …

New Zealand shares rose, with units of the Fonterra Shareholders’ Fund gaining ahead of company’s interim results tomorrow, while Ryman Healthcare, rated outperform by analysts, rose to a record. The NZX 50 Index rose 5.29 points, or 0.1 percent, to 4346.02. Within the index, 23 stocks gained, 20 fell and seven were unchanged. Turnover was $117 million. Fonterra units rose …