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Business New Zealand

  • MELBOURNE, Oct 10- Australian shares slipped 0.3 percent on Wednesday, with falls across the board after a weak lead from Wall Street, while gold miners fell after bullion prices eased offshore.

  • WELLINGTON/ SYDNEY, Oct 10- The Australian and New Zealand dollars held gains on the euro on Wednesday but were on the defensive elsewhere as concerns over Spain continued to simmer and sap risk appetite. *Euro hurt due to uncertainty regarding Greece and Spain.

  • MELBOURNE, Oct 10- Australian shares fell 0.4 percent on Wednesday, with some of the biggest declines recorded by gold miners after bullion prices headed lower offshore. eased 0.6 percent to 3,882.8 after U.S. stocks fell on increasing worries about third-quarter earnings and the International Monetary Fund warned on global growth.

  • WELLINGTON, Oct 10- New Zealand's budget deficit halved in the 2011/ 12 fiscal year but the improvement was still less than expected, underscoring the government's challenge of returning to surplus in three years given a patchy recovery and uncertain global outlook.

  • MELBOURNE, Oct 10- Australian shares may ease from 14- month highs on Wednesday after U.S. stocks fell on concerns over third-quarter earnings, although energy companies may be boosted by a sharp rise in oil prices. *Energy companies such as Woodside Petroleum.

  • WELLINGTON/ SYDNEY, Oct 10- The Australian and New Zealand dollars rallied on the euro on Wednesday as concerns over Spain continued to simmer, while a second session of gains for iron ore brightened the outlook for Aussie export earnings. *Support seen around $1.0175, then $1.0150, while sellers lined up around 100- DMA of $1.0251.

  • In its latest forecast, the International Monetary Fund said Tuesday that the global economy is weakening and will grow more slowly in the next year. The euro fell to $1.2880 in late trading Tuesday from $1.2967 late Monday. The dollar rose to 0.9404 Swiss franc from 0.9330 Swiss franc and to 97.76 Canadian cents from 97.66 Canadian cents.

  • AMSTERDAM-- World stock markets fell Tuesday on a gloomy forecast from the IMF and worries over Europe's debt crisis ahead of the start of earnings season.

  • Meanwhile, comments by the International Monetary Fund on the global economy "provide a gloomy backdrop" for the day, said Monument Securities analyst Marc Ostwald. After a weak session Monday, Wall Street opened slightly lower again, with the Dow Jones Industrial index down 0.1 percent to 13,565.45, and the S&P 500 down 0.1 percent at 1,454.61.

  • AMSTERDAM-- World stock markets mostly declined Tuesday against a backdrop of worries about global economic growth and Europe's debt crisis. Meanwhile, comments by the International Monetary Fund on the global economy "provide a gloomy backdrop" for the day, said Monument Securities analyst Marc Ostwald.

  • An important factor in the New Zealand dollar's favour is the performance of prices for the country's main commodity exports. Dairy prices, an important export for New Zealand, are set to remain high and New Zealand's dairy industry may benefit more than usual given U.S. rivals have been hit by the worst drought in half a century.

  • A day before, the World Bank issued a warning about a slackening expansion in Asia. Britain's FTSE 100 fell more than 0.2 percent to 5,827.72. The picture was not as bleak in Asia, where stock market performance was mixed.

  • SINGAPORE, Oct 9- Singapore may avoid a technical recession when it reports third quarter GDP as second-quarter numbers are likely to be revised upwards, Prime Minister Lee Hsien Loong said on Tuesday, according to local media reports.

  • BEIJING/ HONG KONG, Oct 9- China's leading telecom equipment makers accused in a U.S. congressional report of being a potential security risk may face fresh scrutiny in other markets, while American firms operating in China could be vulnerable to retaliation.

  • Oct 9- China's leading telecom equipment makers accused in a U.S. congressional report of being a potential security risk may face fresh scrutiny in other markets, while American firms operating in China could be vulnerable to retaliation.

  • *Steelmakers consortium still interested in Arrium. SYDNEY, Oct 9- Australia's Arrium Ltd sold its 50.3 percent stake in New Zealand's Steel and Tube Holdings Ltd for NZ $91.2 million, shoring up its defence against a takeover by a consortium including Noble Group Ltd and South Korea's POSCO.

  • MELBOURNE, Oct 9- Australian shares climbed 0.5 percent to a fresh 14- month high on Tuesday, with miners boosted by a jump in iron ore prices that helped offset concerns about global economic growth. No. 3 iron ore miner Fortescue Metals Group. rose 3.6 percent and Northern Iron.

  • Australia- listed Kathmandu Holdings Ltd leads on analyst revisions among 55 companies in the country's consumer discretionary sector tracked by at least three analysts, data from Thomson Reuters StarMine shows. Analysts have raised average EPS estimate for the year ending July 2013 by 9 percent since Sept. 21.

  • WELLINGTON/ SYDNEY, Oct 9- The Australian and New Zealand dollars recovered a bit of ground on Tuesday, helped by profit-taking and a bounce in Chinese stocks, though the mood remained fragile on global growth worries and subdued economic data in Australia.

  • WELLINGTON, Oct 9- New Zealand infrastructure investor Infratil Ltd is planning an issue of six year bonds, the company said on Tuesday. It said the offer would be in two parts, the first of NZ $25 million in November 2018 bonds, with oversubscriptions of up to NZ $50 million.