A2 Milk hits four year low
The S&P/NZX 50 Index fell 30.12 points, or 0.2%, to 12,620.52. Within the index, 24 stocks fell, 23 rose, and three were unchanged. Turnover was $168.7 million.
The infant formula exporter A2 Milk Company led the index lower as it fell another 5.6% to $7.46 today. The stock was last below $7.50 in April 2017.
Today’s fall might have been prompted by a significant shareholder notice which showed Mitsubishi UFJ Financial Group – a large Japanese financial services company – had reduced its stake in the company to 7.5% from more than 8.5%.
Last week, both Pendal Group and Morgan Stanley ceased to have a significant shareholding. UBS Group, however, has increased its stake on behalf of customers and remains one of the few brokerage firms with a positive outlook on the dairy company.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
