What you need to know on Thursday morning
- NZX50 up 84.38 points (1.64 per cent) to 5232.68
- NZ dollar at US86.24 cents, A92.82c, 88.09yen, 51.02p, €62.17c
- Brent crude oil at US$108.21 a barrel
- Spot gold at US$1291.40 an ounce
What's on today
- ANZ bank: Half-year financial results
Stocks to watch
- Xero: Shares in the accounting software company were up 5.5 per cent to $31.65 yesterday after it announced a deal with US consumer tax services provider H&R Block. However, Xero shares are still nearly 30 per cent below their peak of $45 earlier this year.
Top international news
- The US Federal Reserve has continued to reduce its bond buying programme, in spite of some less-than-stellar economic data. The Fed said it would reduce its monthly bond purchases to US$45 billion from US$55 billion, keeping it on track to end the program as early as October. The announcement followed new data showing the US economy only grew 0.1 per cent in the first quarter.
Something else for your morning
- Could Manukau become the entertainment capital of Auckland? That's the view of Auckland mayor (and former Manukau City mayor) Len Brown, as work begins on a new whitewater rafting complex.
- Fairfax Media