MARKET CLOSE: NZ shares drop, A2 Milk gives up gains; F&P Healthcare gains on court result

Fri, 02 Dec 2016

By Sophie Boot Dec. 2 (BusinessDesk) - New Zealand shares fell, dragged lower by A2 Milk Co on negative news from an Australian rival, while Fisher & Paykel Healthcare gained after a positive result in court. The S&P/NZX 50 Index dropped 27.88 points, or 0.4 percent, to 6,904.86. Within the index, 27 stocks fell, 17 rose and seven were unchanged. Turnover was $155 million. A2 Milk Co led the index lower, down 11.6 percent to $2.28. The shares had gained 19 percent since last Tuesday when the company updated shareholders at its annual m...

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