Business
Sharemarket falls as investors see further downgrades for A2 Milk – Stuff.co.nz
A2 Milk had “a terrible day,” said investment adviser Peter McIntyre. “The selling pressure has remained consistent and gained some momentum.”
The sharemarket fell, weighed down by weakness in The a2 Milk Company as investors offloaded their holdings on expectations the specialty dairy company will downgrade its earnings guidance.
The benchmark S&P/NZX 50 Index slipped 0.24 per cent, or 30.115 points, to 12,620.52 on Tuesday.
A2 Milk dropped 5.6 per cent to $7.46, its lowest level in about four years. The dairy company has already cut its earnings guidance several times after the Covid-19 pandemic and border closures disrupted sales,…
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