MARKET CLOSE: NZ shares gain; a2 jumps to 12-month high as earnings outperform

Wed, 20 Feb 2019

By Paul McBeth Feb. 20 (BusinessDesk) - New Zealand shares rose amid a flurry of company earnings. A2 Milk hit a 12-month high after beating analysts' expectations, while Spark New Zealand, Fletcher Building and Meridian Energy fell. The S&P/NZX 50 index increased 25.18 points, or 0.3 percent, to 9,249.44. Within the index, 20 stocks rose, 26 fell, and four were unchanged. Turnover was $169.1 million, of which a2 accounted for $51.8 million. Four of the country's 10 biggest listed companies reported first-half earnings with mixed res...

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