MARKET CLOSE: NZ shares mixed, A2, Fletcher rally while Tower drops 28% on merger decline

Wed, 26 Jul 2017

By Sophie Boot July 26 (BusinessDesk) - New Zealand shares were mixed, with A2 Milk Co at a record high and Fletcher Building recovering some losses while Tower plunged 28 percent after its merger application was declined. The S&P/NZX50 Index dipped 2.47 points, or 0.03 percent, to 7,710.59. Within the index, 24 stocks rose, 19 fell and seven were unchanged. Turnover was $156.3 million. A2 Milk led the index, up 4 percent to $4.20. The stock rallied in June after it lifted annual sales guidance for the second time in as many months as...

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