NZ shares climb as dairy stocks float amid flooding

Floods have hit Canterbury. (Credit: Chris Skelton/Stuff)

Tue, 01 Jun 2021

New Zealand shares lifted today as most dairy stocks continued to recover despite flooding in Canterbury causing chaos in the farming region.The S&P/NZX 50 Index rose 140.96 points, or 1.1%, to 12,462.47. Within the index, 13 stocks fell, 26 rose and six were unchanged. Turnover was $172 million.Synlait Milk led the market higher as it jumped 8% to $3.24. The milk processor said flooding had caused “significant damage” to several farms in its network, but no milk had been lost. Days of heavy rain have led to widespread floo...

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