MARKET CLOSE: NZ shares drop as a2 Milk falls on Synlait, Pacific Edge extends decline

Fri, 30 May 2014

By Suze Metherell May 30 (BusinessDesk) - New Zealand shares fell, with a2 Milk Company leading the NZX 50 Index lower after its milk processor Synlait Milk cut its forecast annual profit by $7.5 million. Pacific Edge dropped for a sixth consecutive day after announcing its full-year loss had widened 44 percent. Fisher & Paykel Healthcare rose to an eight-year high. The benchmark index fell 4.726 points, or 0.09 percent, to 5178.435. Within the index, 14 stocks fell, 28 rose and eight were unchanged. Turnover was $133.6 million. A2 Mil...

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