Initial optimism over the agreement on a financial rescue for Cyprus turned to concern about the increased exposure of investors and depositors to banking losses in the euro zone. Following earlier EU assurances that the Cyprus model of taxing depositors to help fund the nation’s bailout would not be applied elsewhere, Eurogroup president Jeroen Dijsselbloem today told Reuters and the …

New Zealand shares fell, paced by Fletcher Building, which drifted off in the absence of offshore buyers and concern it needs to lift earnings to justify its current share price. SkyCity Entertainment Group dropped after shedding its dividend. The NZX 50 Index fell 2.15 points, or 0.01 percent, to 4340.73. Within the index, 21 stocks rose, 18 fell and 11 …

The New Zealand dollar fell against the euro after the Cypriot government stitched together a lifeline from the European Union and International Monetary Fund to keep the Mediterranean nation from defaulting and forcing the first euro-exit. The kiwi fell to 64.05 euro cents at 5pm in Wellington from 64.22 cents on Friday in New York. The local currency traded at …