The New Zealand dollar fell against its Australian counterpart after stronger-than-expected jobs data across the Tasman indicated growing momentum in the labour market.
Farm sales fell 7 percent on the year in the three months to June and the median price per hectare was down 16.3 percent although horticulture farm prices continued to push higher, according to the Real Estate Institute.
Fletcher Building shares have gained about 14 percent since Kingfish took a 3.1 percent stake and the listed investment firm's manager remains upbeat on the stock.
New Zealand second-quarter inflation was slightly lower than economists had expected but in line with central bank forecasts as housing-related prices continue to push higher.
Delegat Group, New Zealand’s largest listed winemaker, said its operating net profit in the year to June lifted 17 percent to a record $44.9 million, underpinned by record global case sales, lower cost of sales per case, higher yielding 2016 and 2017 vintages and lower financing costs.
New Zealand's services sector activity, which accounts for about two-thirds of the economy, slowed to its smallest expansion in June since December 2012, according to the BNZ-BusinessNZ performance of services index (PSI). BusinessDesk's Rebecca Howard reports.
New Zealand Defence Minister Ron Mark says he's unconcerned about how China will react to criticism of its track record on human rights and freedom of information in the government's Strategic Defence Policy Statement presented today.
The New Zealand dollar stuck to a very tight range against the greenback in Asian trading as markets await key events in the US for direction.
Global risks coupled with domestic forces are weighing on the New Zealand dollar and Bank of New Zealand says its fair value estimate of 70 US cents faces downside risks that could push it even lower.
The New Zealand government's operating surplus was 9 percent above forecast in the 11 months to the end of May but higher-than-expected Crown entity insurance claim costs offset some of the gains.