MARKET CLOSE: NZ shares gain as A2 calms critics with strong sales

Wed, 17 Oct 2018

By Paul McBeth Oct. 17 (BusinessDesk) - New Zealand shares rose, led by A2 Milk Co, which calmed nervous investors with a strong first-quarter update. Synlait Milk followed suit, albeit on much lighter volumes. The S&P/NZX 50 index climbed 108.34 points, or 1.2 percent, to 8,911.79. Within the index, 37 stocks gained, seven fell and six were unchanged. Turnover was $106.8 million. A2 jumped 9.2 percent to $10.59 on average volumes, having touched an eight-month low last week. The milk marketer today said it increased its Chinese mark...

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