A2, Synlait drop more than 20% from recent highs, dragging index lower

Tue, 07 Nov 2017

By Sophie Boot Nov. 8 (BusinessDesk) - A2 Milk Co and Synlait Milk are coming in for a correction with both stocks down more than 20 percent from recent peaks, dragging the S&P/NZX50 Index lower. Around 11.15am today, A2 sank 9.5 percent to $6.90, while Synlait had dropped 11 percent to $6.45. The benchmark index had fallen 0.9 percent to 7,977.72, the first time the NZX50's been below 8,000 in more than a month. The two stocks began falling on Friday, with A2 having dropped 18 percent since then and Synlait down 19 percent. Grant Wil...

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