NZX falls on A2's weak margins

Wed, 27 Oct 2021

A2 Milk led the New Zealand sharemarket lower as investors sold shares after a disappointing investor day revealed the infant formula exporter would likely have low profit margins for the foreseeable future. The S&P/NZX 50 Index fell 55.15 points, or 0.4%, to 13,075.4. Turnover was $195 million.Shares in A2 Milk plunged 11.4% to $6.33, down almost 18% from a six-month high of $7.68 just three days ago. Some investors had expected the infant formula exporter to give a positive update after a smaller competitor reported impre...

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