MARKET CLOSE: NZ shares fall on profit warnings; King Salmon flounders

Wed, 01 May 2019

By Paul McBeth May 1 (BusinessDesk) - New Zealand shares sank as muted earnings guidance from SkyCity Entertainment Group and A2 Milk didn't meet investors' expectations. New Zealand King Salmon shed almost a fifth of its value as warmer water left it with more dead fish. The S&P/NZX 50 Index dropped 47.41 points, or 0.5 percent, to 9,966.42. Within the index, 24 stocks fell, 16 rose, and 10 were unchanged. Turnover was $90.9 million. SkyCity led the benchmark index lower, down 4.9 percent at $3.88 on a volume of 1.4 million shares, ...

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