Speculative A2 Milk spike drags NZX50 higher
Trading of A2's shares was halted on both sides of the Tasman after the stock lifted 8.6% to $5.42 on the NZX.
After NZX trading closed, A2 noted speculation in the Australian Financial Review that it was nearing approval from the US Food and Drug Administration but said its application to sell infant formula in the US was still being reviewed.
A2 Milk, like many other companies, has sought to take advantage of a relaxation in US infant formula import requirements as that country grapples with a baby formula shortage.
The S&P/NZX 50 index gained 6.60 points, or 0.1%, to 11,532.46. Turnover on the main board was relatively quiet at $83.7 million.
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