MARKET CLOSE: NZ shares fall: A2 downgraded on eve of earnings, Heartland misses expectations

Tue, 19 Feb 2019

By Paul McBeth Feb. 19 (BusinessDesk) - New Zealand shares fell, with A2 Milk weaker after an analyst dubbed it overvalued and as weak Chinese sales by Australian supplements maker Blackmores weighed on the dairy company. Heartland Group declined on weaker-than-expected earnings. The S&P/NZX 50 index decreased 21.18 points, or 0.2 percent, to 9,224.26. Within the index, 21 stocks fell, 23 gained, and six were unchanged. Turnover was $106.1 million, of which Spark New Zealand accounted for $45.1 million. A2 fell 2.2 percent to $12.87...

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