NZ shares stumble as a2 Milk outlook sours

NZ shares stumble as a2 Milk outlook sours
Across the main board, 55 stocks fell, 81 rose, and 43 were unchanged. (Image: Supplied)
Paul McBeth
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...

More Markets

Updated: Freightways reports 5.8% hit to net profit
Markets

Updated: Freightways reports 5.8% hit to net profit

The logistics company saw existing customer activity decline in 2024.

a2 Milk's share price drops 11% on weak outlook
Primary Sector

a2 Milk's share price drops 11% on weak outlook

It is "very pleased" to have resolved its dispute with Synlait.

SkyCity increases debt, writes down value of Adelaide casino
Markets

SkyCity increases debt, writes down value of Adelaide casino

Entertainment company SkyCity’s full year finances this week will include a non-cash impairment of $94.3 million related to its troubled Adelaide casino and new debt totalling $465m.The writedown related to more legal and compliance costs associated with its Australian casino and...