A2 Milk led the local stock market lower for a second day as the milk marketing firm’s woes continued to drag down agricultural companies.

Dairy companies led the local stock market lower, with a2 Milk sinking to a three-and-a-half-year low after the milk marketing firm cut its earnings guidance yet again.

New Zealand’s main share index dipped slightly as investors continued to shun market heavyweights and decided Fonterra’s planned change to its capital structure will not work for them.

New Zealand shares sustained losses as investors pulled cash out of A2 Milk Company and Fisher & Paykel Healthcare.

New Zealand shares fell as Fisher & Paykel Healthcare dropped and global equity investors were spooked by the US treasury secretary raising the prospects of rate hikes.

A2 Milk and Synlait led the New Zealand share market higher as the two embattled dairy stocks mounted a small recovery after hitting four-year lows.

Dual-listed Westpac Bank lead the New Zealand share market higher as it reported half-year profit more than doubled and said it would resume paying dividends.

New Zealand shares followed US markets higher after better-than-expected earnings results by Apple and Facebook and strong economic data.

Fuel retailer Z Energy propelled the New Zealand share market higher as brokerage firm Jarden reiterated its ‘buy’ recommendation ahead of its full year result.

Small stocks lead the New Zealand share market higher on light volumes with Skellerup Holdings hitting an all-time high.

New Zealand shares fell as A2 Milk dropped to its lowest price in almost four years as more institutional investors cut their losses.

New Zealand shares rose despite A2 Milk dropping to a three-year low as more analysts lost faith in its earnings guidance.

A share price spike for Fisher & Paykel Healthcare papered over weakness in the wider market with the majority of share still in decline.

New Zealand’s share market fell in tandem with equity markets around the world as the global economy continues to be hampered by covid-19 despite vaccine rollouts.

New Zealand shares fell in line with US markets and ahead of tomorrow’s local consumer price index data.

Auckland International Airport led the share market higher as Australian visitors poured through its international terminal for the first time since March last year.