MARKET CLOSE: NZ shares drop, A2 falls on Nestle competition, Fletcher sinks while Sky TV bounces

Thu, 29 Mar 2018

By Sophie Boot March 29 (BusinessDesk) - New Zealand shares fell on the last day of the quarter, led lower by A2 Milk Co on continued selling from increased competition and further weakening from Fletcher Building. The S&P/NZX 50 Index dropped 69 points, or 0.8 percent, to 8,319.07. Within the index, 24 stocks fell, 18 rose and eight were unchanged. Turnover was $207 million. That included $44 million of trading in A2 and $24 million in Fletcher. "Now that A2 is our biggest stock, a 4 percent down day on that is going to have a big imp...

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