Abano stoush victor set to emerge

Last updated 07:59 13/06/2014

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What you need to know on Friday morning, June 13.

- NZX50 up 15.961 points (0.31 per cent) to 5195.110

- NZ dollar at US86.79 cents, A92.17c, 88.23yen, 51.57p, €63.99c

- Brent crude oil at US$112.88 a barrel (up US$2.93)

- Spot gold at US$1274.50 an ounce

What's on today

- Statistics New Zealand's food price index shows how much the cost of your favourite meals increased in May.

- Abano Healthcare is holding a special shareholder's meeting at 10am at the Ellerslie Event Centre in Auckland as rebel shareholders Peter Hutson and James Reeves bid to have board chairman Trevor Janes ousted.

Stocks to watch

- Abano Healthcare: The bitter feud between Abano's board and rebel shareholders Peter Hutson and James Reeves will go another round today with a special meeting to decide on their bid to oust chairman Trevor Janes. However, this is unlikely to be the end of the dispute as the pair, who own 18.6 per cent of the medical services company are unhappy with the special meeting process and want to call another one.

Top international news

- US stocks fell to session lows overnight as concerns escalated about Iraq and after disappointing economic data on consumers and the labour market.

The stock market's losses quickly accelerated after President Barack Obama refused to rule out US action in Iraq against Sunni Islamist militants who have surged out of the north toward Baghdad, threatening to divide the country and establish their own jihadist state.

The Dow Jones industrial average .DJI fell 110.91 points or 0.66 per cent, to 16,732.97. The S&P 500 .SPX lost 14.03 points or 0.72 per cent, to 1,929.86. The Nasdaq Composite .IXIC dropped 37.19 points or 0.86 per cent, to 4294.74.

Something else for your morning

- While the world's attention focuses on a tournament involving men kicking a round ball in Brazil, two New Zealand butchers are sharpening their knives to do battle in a competition of a different sort. Phill Pirie and Peter Martin are part of the national butchery team the Pure South Sharp Blacks, that will take on the best from England and Australia at the 2014 Butchery Tri-Nations on July 10.

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