Fletcher Building shares have hit a 20-month high, but the forecast strength of the New Zealand dollar against its United States counterpart could erode long-term after-tax profits.
Exporters appear to be in for another tough year as the New Zealand dollar surged past US84c this week, with an economist picking rates above US80c for most of the year. The exchange rate was above US80c for 75% of 2012, and never closed below US75c, BNZ currency strategist Mike Jones said.
Investors were disappointed with a profitable half-year result posted by jeweller Michael Hill International yesterday, as its bottom line failed to reflect the almost 40% share-price gain achieved during the past year.
The fortunes of boutique gold producer Glass Earth Gold are gaining momentum, as weekly Central Otago gold production surpasses $NZ150,000 and the company confirms private placement funding well beyond a targeted $C3 million ($NZ3.68 million), from investors worldwide.
Dunedin-based Blis Technologies has responded to a New Zealand stock exchange ''please explain'' request - over its share price spiking more than 170% - saying shareholders were topping up their stakes.
Dual-listed L&M Energy's (LME) chairman Geoff Loudon is on the cusp of attaining 90% of the shares required in his almost $13 million takeover bid for the listed coal bed methane gas explorer, which has extensive interests in Otago and Southland.
Christchurch earthquake victims holding policies with collapsed Queenstown company Western Pacific Insurance could be more than $16 million out of pocket - or 33% down on their respective claims.
Dunedin-based Blis Technologies may be in line to receive a ''please explain'' notice from the New Zealand Stock Exchange, following massive increases in share trading volumes and a boost in its flagging share price.
Mining giant Rio Tinto - which has its loss-making Tiwai Pt aluminum smelter near Bluff for sale - is considering shutting a similarly loss-making aluminium refinery in the Northern Territory, which employs 1600 people.
Christchurch's housing shortage, expensive rent and mediocre wages are deterring Otago people from heading north to seek employment.
The Christchurch rebuilding effort and strength in the agriculture sector are underpinning expectations by more than 70% of South Island businesses that revenues will increase this year.
Following the New Year boost to the respective strength of the New Zealand and Australian dollars, they are now trading flatly against the world's major currencies as the United States addresses its looming debt ceiling crisis.
Goldminer Oceana Gold expects to fully resume operation of its Frasers underground mine at its East Otago Macraes site today, following a access road slump on Saturday which prompted suspension of some work.
The use of hydraulic fracturing of rock, or ''fracking'', appears more widespread than originally thought, with some instances of fracking in Otago and earlier in Southland coming to light.
No applications to undertake hydraulic fracking have been received by the Otago Regional Council, but its policy on whether an application is public or non-notified will be done case by case.
It has been several years since four ships have been berthed at the same time in Dunedin's upper harbour.
Sharemarket darling Ryman Healthcare continues to impress, with its shares hitting an all-time high of $4.34 having gained a further 2.4% yesterday.
Shares in East Otago gold miner Oceana Gold have plunged more than 15% in the past three weeks, since it raised $114 million in Canada, having sold 30 million shares to a syndicate of underwriters earlier in the month.
Manufacturing in Otago and Southland during November eclipsed an otherwise lacklustre national effort, heading up the four regional territories.
Port Otago is celebrating its ability to remain the country's deepest container port, but has no timetable to begin any major dredging operations.
