NZ shares surrender yesterday’s gain

The S&P/NZX 50 Index fell 134.33 points, or 1.1%, to 12,594.52. Turnover was $245 million.

Almost every stock in the index declined today as investors walked back the more than 1% bounce yesterday after a string of positive market updates got sentiment up.

Leading the fall was A2 Milk, down another 4.6% at $6.22 today, having enjoyed a brief reprieve from sustained selling yesterday. The stock is now down more than 16% in recent months.

Mainfreight and Ryman Healthcare both held upbeat annual general meetings yesterday and got share price bumps to match.