MARKET CLOSE: NZ shares drop as A2 weakens on trading update, Kathmandu at 4.5-year high

Thu, 12 Jul 2018

By Sophie Boot July 12 (BusinessDesk) - New Zealand shares fell, led lower by A2 Milk Co and Sky Network Television, while Kathmandu Holdings hit a four-and-a-half year high. The S&P/NZX 50 Index dropped 15.92 points, or 0.2 percent, to 8,985.47. Within the index, 22 stocks fell, 17 rose and 11 were unchanged. Turnover was $89.2 million. A2 Milk was the worst performer, down 3.5 percent to $11.36. It lifted annual sales 68 percent, just beating the guidance given in May, and said it expects to maintain an earnings margin of about 30 pe...

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