MARKET CLOSE: NZ shares drop below 10,000; A2 slumps on China fears

Tue, 04 Jun 2019

By Paul McBeth June 4 (BusinessDesk) - The S&P/NZX 50 Index closed below 10,000 for the first time in almost a month, as A2 Milk slumped almost 11 percent on fears that China's plans to develop its domestic infant formula market may weigh on the milk marketing firm. The NZX50 dropped 166.06 points, or 1.6 percent, to 9,951.93. Within the index, 30 stocks fell, 16 rose, and four were unchanged. Turnover was $143.3 million, of which A2 accounted for $38.5 million. The local market was already poised for a weak session after Australia's...

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