NO PLACE TO CALL HOME: House prices will go up, wages won't, and it will eventually be impossible for New Zealanders to buy their own home, commentators say.

'Ownership unrealistic'

Eventually it may be impossible for Kiwis to buy their own home.

Dry spell shadow over payout

The tantalising prospect of a $6-plus Fonterra milk payout this year is taking a dry weather battering in the dairying powerhouse north of Taupo as milk production slides.

Synlait looks at float alternatives

Synlait Milk says alternatives to a previously planned sharemarket float to raise capital have emerged, given a recovery in dairy sector prices.

Lift passes set to rise

By SHANE COWLISHAW in Queenstown - The Southland Times

Snow lovers may have to spend more to shred the slopes this season after massive ACC levy hikes for the ski industry, which have outraged Queenstown-Lakes operators.

Shell companies protect anonymity

By CATHERINE HARRIS - The Dominion Post

Shell companies are essentially "ready to go" companies with no assets that accountants, lawyers and trust companies have on hand for clients who do not want to wait out the red tape associated with setting up a company.

More Business headlines

LMP chief defends plans to merge with sister firm

NZ Dairies: Russians backing us

Kiwis to spend and forget

Kiwi Liddell to be considered for General Motors CEO position, says chairman

Receivers expect 'complete loss' on Momi resort debt

Sky City cinema deal moves

PGW to sell Canterbury Saleyards stake

Woolies may buy liquor group

Auckland house prices hit high

NZ trade deficit at seven-year low

More Business headlines

Indices

	VALUE
NZX50	3,284.811	13.243	0.40%
ASX200	4,921.400	-2.900	-0.10%
DOW	10,572.020	-11.900	-0.10%
NASDAQ	2,301.090	-7.600	-0.30%
FTSE	5,530.040	7.500	0.10%
NIKKEI	10,731.450	49.600	0.50%
H-SENG	22,416.670	137.100	0.60%
NZX50 20 min delay, others last close

Top Movers

	PRICE	MOVEMENT
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Currencies

RATE
Australian Dollar	0.801
Euro	0.512
British Pound	0.461
Hong Kong Dollar	5.709
Japanese Yen	68.270
Singapore Dollar	1.029
US Dollar	0.737
Price as at 8:10 pm, 7 Jan

Brokers' picks for 2010

Supertower to open in Dubai

Goodbye luxuries, hello basics

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Industries

Kiwis to spend and forget

Kiwis will splash the cash on entertainment and dining out as a means of putting a miserable 2009 behind them, says credit card company MasterCard.

NZ Dairies: Russians backing us

New Zealand Dairies says its debt-restructured Russian owner is firmly behind the Studholme milk processor, which will look at expansion opportunities down the track.

LMP chief defends merger plans

NZ trade deficit at seven-year low

World

Microsoft faces Windows lawsuit

An Italian consumer group is planning a class-action lawsuit against Microsoft seeking compensation for Windows software pre-installed on computers for people who did not want it.

Jetstar and AirAsia form alliance

Qantas subsidiary Jetstar and Malaysia-based low-cost carrier AirAsia have formed an alliance which the airlines say will reduce costs, pool expertise and result in cheaper fares.

US business bankruptcies up

Dow falls but S&P up

Wall Street slips on data

US stocks slipped on Wednesday after ISM data showed the US services sector grew in December, but at a marginal pace, and a report said the rate of job losses slowed at US private employers.

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Market Data

NZ market flat early

The New Zealand sharemarket was flat in early trading, with a lift in Fletcher Building stock to a new seven-week high being one of the few moves of any note.

Wall Street slips on data

US stocks slipped on Wednesday after ISM data showed the US services sector grew in December, but at a marginal pace, and a report said the rate of job losses slowed at US private employers.

Dollar near two-month high on yen

Little change in shares despite optimism

Fletcher Building propels market

A rise in Fletcher Building's share price to a nine-week high helped propel the New Zealand sharemarket higher in still thin new year trading.

The benchmark NZSX-50 index closed up 13.243 points, or 0.405 percent, at 3284.811, its highest level in nearly 16 months. Turnover was worth $71 million. There were 43 rises and 26 falls among the 109 stocks traded.

Market leader Fletcher Building rose 10c to 811 on a day in which Auckland's largest real estate agent reported a strong property market in December.

There was more data today suggesting the Australian economy, where Fletcher Building has a large business, is performing better than expected but this also led to speculation of further interest rate rises.

PGG Wrightson was unchanged at 61 after selling a half stake in the Canterbury Saleyards Company Ltd to its partner in the facility.

Retailers remain as mixed as the reports of shopping patterns in the Christmas and holiday season, though Warehouse rose 5c to 415, Hallenstein Glasson rose 4c to 340 and Pumpkin Patch rose 1c to 202.

OceanaGold shares continued their recent ascent, adding 8c to a month high 250.

After reaching a seven-week intraday high of 258 yesterday, shares in Telecom were down 4c to 253 today.

TrustPower eased 4c to 725 on very light volume. NZX eased 8c to 228. APN rose 2c to 300.

NZOG rose 2c to 167 on a day in which it was queried by the ASX about a director notice.

Tower rose 3c to 210, Infratil 3c to 165, and Freightways 1c to 340. Contact rose 7c to 632, Nuplex 4c to 301, and Mainfreight 11c to 568.

Fisher and Paykel Healthcare rose 3c to 335 and the appliances stock was unchanged at 62.

In the United States, the stock market ended little changed following mixed economic reports and as minutes from the Federal Reserve's last meeting point to divisions among policymakers.

A trade group's report that its service industry index rose was welcome news, but a private snapshot of private sector jobs fell short of expectations.

The Dow Jones industrial average was up 0.02 percent at 10,573.68, the Standard & Poor's 500 index up 0.05 percent at 1137.14, and the Nasdaq composite index down 0.3 percent at 2301.09.