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The New Zealand dollar gained against most of its trading peers after weak economic figures in Europe and the UK, and rising equity markets stoked demand for so-called risk assets. The kiwi dollar rose to 84.12 US cents from 84.03 cents at 5pm in Wellington yesterday, having climbed as high as 84.44 cents overnight. The trade-weighted index rose to 77.26 …

Wall Street advanced as solid economic data and a sigh of relief for the health care industry underpinned sentiment. The latest data on the US economy bolstered expectations that the recovery is on track at a pace that will also safeguard the Federal Reserve’s backing. Factory orders advanced 3 percent in February, slightly ahead of economists’ expectations for a 2.9 …

Prices of dairy products surged to a record in Fonterra’s latest GlobalDairyTrade auction as traders competed for a shrinking volume of milk powder in the face of the continuing impact of drought. The GDT-TWI Price Index rose 14.2 percent compared to the last sale two weeks ago, the eighth straight gain. The average winning price rose to US$4,966 a tonne, …

The New Zealand dollar rose above 84 US cents after the Reserve Bank of Australia kept its benchmark interest rate at 3 percent as the nation’s spending picks up from a lull, and said it has scope to cut it need be. The kiwi rose to 84.03 US cents at 5pm in Wellington from 83.75 cents at 8am and 83.52 …

The Reserve Bank of Australia kept its cash rate unchanged at 3 percent as expected and repeated its view that there is scope to ease policy if necessary to support demand. Today’s statement contains almost identical language to the March 6 statement. “Inflation is consistent with the medium-term target, with both headline CPI and underlying measures at around 2¼ per …

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Bathurst Resources, the West Australia-based company that gained tentative approval for its Escarpment coal mine on the West Coast’s Denniston Plateau last month, plans to reincorporate as a New Zealand company. The change will be by way of a scheme of arrangement, with shareholders being issued one share in Bathurst NZ for each existing Bathurst share held, the company said …

New Zealand commodity prices surged 7.4 percent in March, the third-biggest gain since at least 1986 as drought drove up the price of whole milk powder by almost a quarter. The kiwi dollar price rose even more as the currency gained. The ANZ Commodity Price index rose 7.4 percent last month to be within 6 percent of the all-time record …

New Zealand households’ employment confidence turned positive for the first time since the third quarter of 2011, as Canterbury and Auckland dragged up an otherwise gloomy nation. The Westpac McDermott Miller Employment Confidence Index rose to 100.7 in the first quarter from 99.1 three months earlier on a scale where 100 separates optimists from pessimists. Employment data is being keenly …

Canadian investor NorthWest International Healthcare Properties Real Estate Investment Trust plans to lift its stake in Vital Healthcare Property Trust to just under a quarter over the coming 12 months. The Vital Healthcare cornerstone shareholder and manager intends to buy up to 15.4 million units, or 5 percent, in the property trust, taking its total interest to 24.99 percent, it …