MARKET CLOSE: NZ shares gain, led by Steel & Tube and Synlait earnings, Auckland Airport drops

Fri, 12 Aug 2016

By Sophie Boot Aug. 12 (BusinessDesk) - New Zealand shares hit a fresh high led by positive earnings from Synlait Milk and Steel & Tube Holdings, while Auckland International Airport fell. The S&P/NZX 50 Index rose 9.27 points, or 0.1 percent, to 7,363.1. Within the index, 28 stocks rose, 13 fell and 10 were unchanged. Turnover was $186.2 million. A2 Milk Co led the index higher, up 4.4 percent to $2.12, after its supplier Synlait Milk said annual profit more than doubled to between $34 and $35 million on sales of higher-margin product...

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