NZD on the move - Fonterra increasing its forecast earnings per share range

NZD is trading higher this morning.

News from Fonterra:

• Fonterra Co-operative Group Limited is increasing its forecast earnings per share range for the current financial year to 45-55 cents
• With a forecast Farmgate Milk Price of $4.60 this lifts the total available for payout to $5.05-5.15 per kgMS and would currently equate to a total forecast cash payout of $4.95-5.00 per kgMS after retentions.

more to come