MARKET CLOSE: NZ shares hit record; Synlait, a2 gain while Sky TV, Z Energy drop
The S&P/NZX50 Index rose 46.79 points, or 0.5 percent, to 9,206.42. Within the index, 28 stocks rose, 18 fell and four were unchanged. Turnover was $114 million.
Synlait led the index higher, up 6.2 percent to $12.20, while a2 Milk rose 3 percent to $12.18. A2's shares have risen 9.4 percent since it announced its full-year results last week. It more than doubled net profit to $195.7 million in the June year as it widened margins and increased infant formula sales. Synlait is due to announce its full-year earnings on Sept. 19.
Vector rose 2.5 percent to $3.34, Auckland International Airport gained 2.5 percent to $7.12 and Skellerup Holdings advanced 2.4 percent to $2.17.
Metlifecare rose 1.6 percent to $6.35. New Zealand's second-largest listed retirement village operator reported a stronger underlying profit on improved revenue in 2018. Its headline profit weakened because of the smaller revaluation gains it made on its property portfolio as the housing market moderated.
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)
