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

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

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024