A raft of merger and acquisition activity in the global drug sector helped underpin equities on both sides of the Atlantic

The New Zealand dollar fell ahead of a speech by Federal Reserve chair Janet Yellen.

The New Zealand dollar held its gains of last week against the greenback before public statements by Federal Reserve chair Janet Yellen amid speculation she may clarify the central bank's view on the start of any interest rate hikes in the US.

House prices around the country have hit a new high with the median price now topping $440,000 but sales are down 10% on last year. (+infographic)

The Kiwi dollar extended its decline against its trans-Tasman counterpart after figures showed Australian unemployment unexpectedly fell last month.

Business confidence remains at multi-decade highs for the first three months of the year, although the strong upswing of previous quarters has flattened out

The kiwi was the worst performing currency tracked by Reuters overnight, falling as low 85.45 US cents after rising as high as 87 cents earlier this week.