MARKET CLOSE: NZ shares fall as Synlait declines another day

MARKET CLOSE: NZ shares fall as Synlait declines another day
Dan Brunskill
New Zealand shares fell as Synlait Milk led the market lower for a second day after it slashed its earnings outlook yesterday. The S&P/NZX 50 Index declined 46.01 points, or 0.4 percent, to 11,834.83. Within the index, 24 stocks fell, 23 gained, and three were unchanged. Turnover was $168.2 million. Synlait Milk fell 5.6 percent to $6.42, having been aggressively sold off yesterday, after it revised first-half net profit down by roughly $10 million and lowered its annual outlook to a flat profit at best. In two days the stock has dropped ...

More Markets

NZ sharemarket falls almost 1.5% as indexes rebalance
Markets Market close

NZ sharemarket falls almost 1.5% as indexes rebalance

The S&P/NZX 50 Index closed at 12,478.5, falling 186.5 points or 1.47%.

Pacific Edge shares up 70% in September
Markets

Pacific Edge shares up 70% in September

Recent announcements look to have cheered investors. 

A2 gave Synlait lifeline but its future is elsewhere
Primary Sector Analysis

A2 gave Synlait lifeline but its future is elsewhere

For a2 to deliver on its plans, it needs to break Synlait's China label stranglehold.