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The New Zealand dollar fell against the greenback as weak retail data in Australia sapped investors’ appetite for the trans-Tasman currencies, and as improving US data stokes demand for the world’s reserve currency. The kiwi fell to 77.77 US cents at 5pm in Wellington, from 77.91 cents at 8 am and 78 cents at 5pm yesterday. The trade weighted index rose to …

The NZX 50 Index outperformed its Australian, European and UK counterparts in the past quarter, s pushed higher by confidence after August’s reporting season and a rally in listed electricity generator-retailers based on political relief, which boosted the index to record levels. The benchmark index gained 2.2 percent in the three months ended Sept. 30, in contrast to and outperforming Australia’s S&P/ASX …

The Financial Markets Authority has warned KiwiSaver providers over sharp sales practices following a doubling of the amount of money switched by customers into other schemes in the past year. The FMA’s KiwiSaver report out today for the 12 months to June 30 showed overall KiwiSaver funds have grown 29 per cent to $21.4 billion, with 235,730 new members joining over the …

Fonterra Co-operative Group’s guaranteed milk price scheme has stirred a mixed reaction from farmers. Some view it as just another risk management tool while others are against it, arguing a co-operative should have the same milk price for all. Given the volatility in milk prices, Fonterra piloted the scheme last year as a way of giving some farmers more certainty on what they’d get paid …

NZX, which operates the New Zealand stock exchange and the dairy futures market, is offering a new service for the dairy industry to forecast local milk production and calculate milk prices. From this month, NZX is offering a Milk Production Predictor, which estimates New Zealand milk production for the coming three months, with forecasts based on climate, pasture growth and cow …

Infratil, the infrastructure investor, has lowered earnings guidance for the coming year by as much as $40 million, reflecting the sale of its Australian energy assets. The Wellington-based company now expects annual earnings before interest, tax, depreciation, amortisation and asset valuation changes will be between $520 million and $545 million in the year ended March 31, 2015, from a previously advised range of between …

Pyne Gould Corp, the Guernsey-based asset management firm controlled by George Kerr, said it missed yesterday’s deadline to submit its final audited accounts for the 2014 year to the stock exchange because of a delay in auditing one of the larger property investments in its Torchlight Fund. “PGC expects to be able to release its final audited full-year accounts and annual report …

The New Zealand dollar rose against the euro as slowing European inflation prompted speculation of further stimulus from the European Central Bank. The kiwi advanced to 61.69 euro cents at 8am in Wellington, from 61.44 cents at 5pm yesterday. The local currency edged lower to 77.91 US cents from 78 cents yesterday. The euro weakened after data showing inflation in …

Wall Street slid after a report showed a surprise decline in US consumer confidence, while other data showed disappointing home prices and business conditions in the Midwest. The Conference Board’s index of consumer attitudes dropped to 86.0 in September, down from an upwardly revised 93.4 in August. “We’re continuing to effectively struggle,” Mike Englund, chief economist at Action Economics in …

New Zealand shares fell on the last day of quarter as investors locked in profits from a 2.2 percent gain over the period. Meridian Energy and Genesis Energy paced the day’s decline. The NZX 50 Index fell 4.47 points, 0.1 percent, to 5255.037. Within the index, 22 stocks fell, 17 rose and 11 were unchanged. Turnover was $173 million. The benchmark index advanced …