NZ shares stumble as a2 Milk outlook sours

Across the main board, 55 stocks fell, 81 rose, and 43 were unchanged. (Image: Supplied)

Mon, 19 Aug 2024

New Zealand’s share market stumbled into the week as The a2 Milk Co was punished for growing at a slower pace than investors had hoped. The S&P/NZX 50 Index dropped 65.64 points, or 0.5%, to 12,662.11, unwinding some of last week’s 4% gain. Across the main board, 55 stocks fell, 81 rose, and 43 were unchanged. Turnover was $113.5 million, with nine companies trading on volumes of more than a million. Earnings season picked up a gear after last week’s surge on the benchmark index, spurred on by the Reserve Bank of NZ&r...

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