| New Zealand Stocks Face Mixed Open
(RTTNews) - New Zealand stocks face a mixed open on Tuesday, after more losses on Wall Street. New Zealand's sharemarket lost ground in a light day of trading on Monday. The benchmark NZX-50 index declined 10.51 points or 0.3 percent to finish at 3,547.75.Market turnover was valued at NZ$74 million. Declining issues outnumbered advancers 71 to 23. Among the individual stocks of interest, Telecom Corporation of New Zealand went against the tide of red ink, posting a gain of seven cents. Other blue-chip issues did not fare as well, with Fletcher Building dropping .22 and Contact Energy falling .10 and Sky TV down a penny. Shares of Auckland International airport fell .03 after the Canada Pension Plan Investment Board said it would cut its voting rights if it succeeds in acquiring a 40 percent stake in the facility.
US Dollar Consolidates Losses as Easing Price Pressures Boost Fed Rate Cut Expectations
Rising risk aversion paired with slowing inflationary pressures heightened US dollar volatility as it swayed throughout the trading session. Against the European currencies, the US dollar moved slightly lower against the euro as investors increased their bets of another rate cut by the Fed, while it accelerated against the British Pound as growth prospects look dim for the UK. The US dollar declined the most against the low yielding Swiss Franc and Yen as investors moved out of the higher yielding assets. As a result, the US dollar picked up against the commodity currencies, with the New Zealand dollar taking the biggest plunge as the pair dropped to the 0.7960 range.
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New Zealand Shares Set For Mixed Thursday Open
(RTTNews) - New Zealand's sharemarket is poised for a mixed open on Thursday, after Wall Street's big rally petered out overnight.
New Zealand shares joined most others around the world in an advance on Wednesday on the heels of Wall Street's jump. The benchmark NZSX-50 Index closed with a gain of 24.37 points or 0.69 percent to end trading at 3,544.83.Advancing issues outnumber decliners 67 to 27 falls on trading valued at NZ$167 million.
Among the individual stocks of interest, Telecom Corporation of New Zealand posted a loss of .02 on extremely heavy turnover. More than 28 million shares of Telecom changed hands, accounting for about two-thirds of all transactions on the exchange.
Other blue chip stocks moved higher, with Fletcher Building gaining .08 and Contact Energy gaining .13.
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