NZ shares mixed, weighed by A2 Milk, Tourism Holdings
The S&P/NZX 50 Index rose 3.07 points, or 0.03 percent, to 10,860.82. Within the index, 23 stocks fell, 19 rose and eight were unchanged. Turnover was moderate at $90.1 million with only a handful of stocks trading on more than a million shares.
A2 Milk shed fell 1.9 percent to $17.67 on volume of 555,000 compared to its 90-day average of 706,000 and Forsyth Barr broker Suzanne Kinnaird said it was likely on some profit-taking as the stock has had a strong run of late. Year to date, A2 Milk is up about 61 percent.
Heartland Group was the biggest decliner in the index, down 2.4 percent at $1.60. Volume of 380,700 shares was a little higher than average.
Tourism Holdings fell almost 2 percent to $4.02 on a volume of 65,770 shares, less than half its usual volume. The stock is still trading at a premium to the $3.88 paid in a shortfall bookbuild last month on the remaining shares not sold in a rights offer at $3.40 a piece.
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