Market Close: Frothy A2 Milk extends gain

Wed, 20 Oct 2021

A2 Milk led the local stock market higher as it extended its gain so far this month to 19.4% as investors' confidence in China’s informal daigou market recovers.The S&P/NZX 50 Index rose 48.32 points, or 0.4%, to 13,114.24, with A2 Milk accounting for $21.2 million of today’s $151.5m turnover on the wider market.The milk marketing firm continued its recovery from its $5.53 trough in September, rising 6.2% today to $7.68. A2 fell out of favour after multiple earnings downgrades when the covid-19 pandemic shut down travel, eff...

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