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The Markets

A2 and F&P Healthcare pull the market down

Wednesday 22nd of July 2020

The S&P/NZX 50 Index declined 13.8 points, or 0.1 percent, to 11,722.97. Within the index, 32 stocks rose, 16 fell, and two were unchanged. Turnover was $130.3 million.

Australia's S&P/ASX 200 Index was down 1.5 percent in late trading as a record number of new cases in Victoria and growing numbers in New South Wales kept investors nervous across the Tasman.

A2 and F&P Healthcare - which both have secondary listings on the ASX - followed suit, which dragged down the NZX 50, given their importance to the index. The kiwi dollar at a six-month high added to the negative outlook for the two export companies.

F&P Healthcare dropped 2 percent to $35.99 and A2 Milk fell 1.3 percent to $20.93.

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