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New Zealand Shares Fall; Bremworth Receives Revised Takeover Offer From Floorscape

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New Zealand shares fell on Thursday despite most Asian markets rallying after Wall Street shares rose overnight, as Treasury yields edged lower.

The S&P/NZX 50 Index fell 0.61% or 84.39 points to close at 13,846.18.

Overnight, the Nasdaq Composite and the S&P 500 added 0.5%, while the Dow Jones gained 0.6%.

In domestic news, the ANZ World Commodity Price Index fell 0.4% month-on-month in August, weighed down by weaker beef and butter prices, according to a report from ANZ Research.

Also, New Zealand's two-way trade increased by 16% to NZ$64.88 billion in the June quarter compared with the prior corresponding period, Stats NZ data showed

Further, the Reserve Bank of New Zealand (RBNZ) is expected to hike the cash rate by 25 basis points to 2.75% at its September meeting, reaffirming its tightening bias, Bank of New Zealand (BNZ) said.

In corporate news, Bremworth (NZE:BRW) has received a revised NZ$0.95 per share offer from Floorscape to acquire 100% of its shares, subject to shareholder and court approval and customary conditions.

Winton Land (ASX:WTN, NZE:WIN) appointed Michael Stiassny as independent chair, effective Wednesday.

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