NZ stocks mixed, A2 Milk leads declines

The S&P/NZX 50 fell by 38.46 points, or 0.4 percent, to 9,337.51. Within the index, 21 stocks fell, 19 gained and seven were unchanged. Turnover was $107.8 million.

A2 fell 5 percent to $11.84. Almost 9.4 million shares traded on Friday – a four-month high - as the firm entered the FTSE index.

Today’s decline trimmed the stock’s gain this year to 45 percent. Chief executive Jayne Hrdlicka sold her 357,232 shares late last week at an average $12.20 to meet tax obligations and fund commitments made before she joined the company in July, A2 said in a filing late Friday.

Synlait Milk fell 4.3 percent to $11.19 – the lowest close in a month. More than 2.9 million shares were traded on Friday when its weightings in the FTSE all capital index increased.