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NZ dollar gains on rising risk appetite, may extend advance

25 Feb 2009 10:50
The New Zealand Dollar rose after U.S. Federal Reserve Chair Ben Bernanke hosed down concern about nationalisation of banks, helping stocks rally on Wall Street and stoking investor appetite for high yielding, or riskier, assets. The nationalisation of the U.S. banking system will be a last resort, and only if the economy continues to deteriorate, creating more losses for the financial sector, Bernanke told the Senate Banking Committee. The Standard & Poor’s 500 rose 3

Stocks to Watch: Port of Tauranga, NZOG profits rise

25 Feb 2009 10:48
about FPA, WDT, NZO, POT, CEN ...
The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. Themes of the day: Stocks rebounded on Wall Street as investors were lured back by some of the lowest prices in 12 years and Federal Reserve Chairman Ben Bernanke eased concern that the government was poised to nationalize banks. Contact Energy Ltd. (CEN): Shares of the largest utility on the NZX 50 fell 4% to NZ$5

While you were sleeping: Bernanke calms banks; Dow rallies

25 Feb 2009 10:43
about AIG, DJI, COMP, BAC, CL ...
U.S. Federal Reserve Chairman Ben Bernanke soothed concern about the prospect of nationalized banks, saying the country would seize lenders only if they lurched into deeper losses. “I don’t see any reason to destroy the franchise value or to create the huge legal uncertainties of trying to formally nationalize a bank when it just isn’t necessary,” Bernanke said in testimony to the Senate Banking Committee. Still, he warned that recession in the world’s biggest economy may extend into 2010 as the federal government grapples to restore the banking system and financial markets

MARKET CLOSE: NZX 50 drops; Tourism Holdings, Cavalier fall

25 Feb 2009 09:50
about FPA, NZS, NZDUSD, THL, PPL ...
New Zealand shares fell, pushing the NZX 50 Index to a new five-year low, as shares of Tourism Holdings, Cavalier Corp. and Fisher & Paykel Appliances sank amid concern weaker balance sheets give companies less of the buffer in the economic downturn. The NZX 50 fell 50.76, or 2%, to 2487.53, the seventh straight daily decline. Within the index, 36 stocks declined, 10 rose and four were unchanged. Turnover was NZ$93 million

NZ dollar pares gain as U.S. stocks fall on prolonged downturn

24 Feb 2009 10:55
The New Zealand Dollar pared gains as stocks in the U.S. fell amid fears of a prolonged global recession. The U.S. downturn will be the worst in at least three decades, with unemployment predicted to rise 9% by the end of the year, according to a survey of economists by the National Association for Business Economists. The Dow Jones Industrial Average dropped 3.3%. Fears of continued economic weakness offset a rally in banks after the federal government hosed down reports it would nationalize Citigroup while pledging further aid for troubled lenders
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