The Singaporean Government's sovereign wealth fund is expanding its New Zealand property holdings after taking a 49 per cent stake in 10 major properties for about $1.2 billion in the last year.

New Zealand shares fell, led by Fonterra Shareholders' Fund, after the world's biggest dairy exporter lowered its guidance for dividends

New Zealand shares rose yesterday, paced by Fletcher Building, as investors were drawn to firms that have under-performed the benchmark index.

New Zealand shares rose yesterday, paced by Chorus as its first-half earnings met with market expectations. Xero rose to a four-month high as a seller exited the stock.

Fletcher Building spent $57 million on land in the latest half year, well up on the $28 million it spent in the last full year.

Rising New Zealand commercial and house-building could buoy this week's Fletcher Building result as analysts highlighted domestic activity as a big profit driver.

New Zealand shares rose yesterday, heading back towards a record high after a two-day slide.

The Commerce Commission says it found no evidence that Fletcher Building's Winstone Wallboards unit engaged in anti-competitive behaviour to protect its dominance in the market.

Bunnings, the hardware chain owned by Australian Wesfarmers, more than tripled annual profit in New Zealand, as a booming property market stoked demand for building products.

The judges say Fletcher Building's board has consistently managed its succession planning well.

Andrew Rolfe, Fletcher Construction project manager, said a 16m hole on the corner of Halsey St and Gaunt St in the Wynyard Quarter had now been completed.

Riding in the Batmobile, chasing the Riddler up the Sky Tower and saving Aotea Square from zombies have all been in a day's work for Johnny Jackson.

October was a crazy month for financial markets.

Professional investors have questioned the value to Goodman Property Trust of Singapore's Government Investment Corporation's acquisition of a 49 per cent stake in Auckland's Viaduct Quarter.

Singapore's sovereign wealth fund has bought a half stake in some of Auckland's newest commercial buildings in the Viaduct Quarter.

Fletcher Construction's efforts here during World War II and its aftermath are detailed in a second huge volume about the business.

Fletcher Building has forecast an 11 per cent operating earnings uplift by as much as $66 million this financial year but some shareholders still expressed dissatisfaction at yesterday's AGM in Auckland.

New Zealand shares gained for a third day yesterday, paced by Contact Energy and TrustPower, as investors spooked by recent volatility sought high-yield stocks. Fisher & Paykel Healthcare rose to a record.

New Zealand's biggest residential repair job is nearly finished, with Fletcher Earthquake Recovery completing most of the Christchurch housing repair backlog.

Graham Darlow, Fletcher Construction chief executive, pays tribute to his engineering father Bob Darlow for inspiring him in his career and giving him his most precious possession.