Blue-chip stocks knocked by growing inflation concerns

Wed, 12 May 2021

The malaise hitting global stock markets over potential inflation pressures weighed on New Zealand firms, with a slew of blue-chip stocks off the boil today.The S&P/NZX 50 Index fell 75.85 points, or 0.6% to 12,564.21. Across the wider market, 96 stocks of the 186 listed securities fell and 52 rose. Turnover on the NZX main board was $204 million.The local market has been on the back foot in recent days due largely to A2 Milk’s latest earnings downgrade. The milk marketing firm appeared to find a base today, up 0.2% at $6.20.Stocks ac...

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