NZ stocks end weaker, but Fonterra rallies sharply after deal

NZ stocks end weaker, but Fonterra rallies sharply after deal
French dairy giant Lactalis is the buyer for Fonterra consumer brands. (Image: Getty)
Jamie Gray
Fonterra’s shares rallied after the co-op announced that it planned to sell its consumer business to French dairy giant Lactalis, while the broader sharemarket ended weaker, driven by a decline in market leader Fisher and Paykel Healthcare.The S&P/NZX 50 Index closed 151.31 points (1.15%) down at 13,042.76, with 63.9 million shares, worth $144.3m trading.There were 90 falls and 48 rises on the main board.Global viewIn the big picture, international investors were focused on what US Federal Reserve governor Jerome Powell’s messag...

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