MARKET CLOSE: NZ shares sink as investors punish A2 over margins

Wed, 21 Aug 2019

By Paul McBeth Aug. 21 (BusinessDesk) - New Zealand shares dropped in one of the reporting season's busiest days as A2 Milk fell to a six-week low when its margins disappointed investors. Fletcher Building and Spark New Zealand both gained on their results. The S&P/NZX 50 Index decreased 94.52 points, or 0.9 percent, to 10,709.32. Within the index, 14 stocks fell, 26 rose and 10 were unchanged. Turnover was $254.1 million, of which A2 and Spark accounted for $152.8 million. Index heavyweight A2 sank 12 percent to $14.81, the lowest c...

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