US equities initially gained after EU leaders agreed on a safety net for Greece based on EU and IMF financing. However, gains were pared back after a report of a South Korean naval ship sinking raised geopolitical concerns. The S&P500 closed up 0.1%, from 0.7% earlier in the session.

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OUTLOOK

CURRENCY: A holiday shortened week may start off providing problems for the NZD as it looks across the Tasman for guidance. Attempts to the topside should be limited today by those looking to position for a stronger USD.

29 March, 2010 - Royal Dutch Shell plc (Shell) today announced it has signed a sale and purchase agreement to sell its downstream business in New Zealand to a consortium of Infratil and the Guardians of New Zealand Superannuation.

NZD

The NZD was one of the strongest performing currencies last week. Still, it was really a case of NZD/USD consolidating within a relatively tight 0.7000-0.7100 range.

The easing of mortgagee sales is still some time away with the latest figures for January 2010 up 31% from January 2009.

Terralink International's data shows that there were 196 registered mortgagee sales in January 2010, up from 150 recorded in January 2009.

Laws around Easter trading remain a mess despite extensive parliamentary debate in December, when Rotorua MP Todd McClay's private members' bill on Easter trading, promoting local choice, narrowly failed.

Strong organisation, forward planning and communication have helped Nathan and Deborah Erskine win the top competition at the Otago Dairy Industry Awards last night.

The Milton couple won the 2010 Otago Sharemilker of the Year title, taking home $14,600 in cash and prizes.

"The high wholesale power prices are out of step with current lake levels which are average for this time of year" said Terrence Currie, Chairman of the Major Electricity Users' Group (MEUG).

Allied Security is the successful tenderer for security services at Waikato District Health Board.

The company was one of 15 nationwide that filed an expression of interest for the $1 million contract when advertisements appeared in major newspapers in December last year.