MARKET CLOSE: Dairy decline pulls market lower

Tue, 29 Sep 2020

New Zealand shares fell with A2 Milk leading the market down as investors speculated further earnings downgrades may be on the horizon. The S&P/NZX 50 Index fell 60.2 points, or 0.5 percent, to 11,742.09. Within the index, 23 stocks fell, 20 rose and seven were unchanged. Turnover was $177.7 million.Dairy stocks led the decline as A2 Milk Co dropped a further 4.9 percent to $15.84, adding to its 9.7 percent fall yesterday. Brad Gordon, an investment adviser at Hobson Wealth Partners, said the market was sceptical the company will...

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