NZ market edges up while shares in Synlait Milk drop almost 10%

Shares in Synlait Milk fell 9.4% by the end of the day. (Image: Getty)

Mon, 18 Sep 2023

New Zealand's benchmark share index rose while shares in milk processor firm Synlait Milk fell almost 10% on the news that A2 Milk wants to cancel Synlait’s exclusive milk formula production and supply rights deal because of delivery and performance issues.The S&P/NZX 50 Index rose 49.3 points, or 0.4%, to 11,397.00. Turnover was $70.7 million. There were 57 gainers and 79 decliners on the main board.A2 Milk told the market on Monday morning it had notified Synlait on Friday after trading closed on Friday that Synlait's &ldquo...

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