Local share market has massive fall after A2 Milk downgrades earnings outlook


The local share market has had a massive fall in the latter part of the session after the top 50 heavyweight A2 Milk downgraded its earnings outlook, causing its share price to fall.

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The NZX Top 50 index was dragged down with A2 Milk’s share price fall (file image)
Photo: Supplied / NZX

A2’s share price fell more than 20 percent, dragging the NZX Top 50 index with it.

Before A2’s news the local sharemarket had hit a record high.

It closed down 207 points, or 1.6 percent, to 12,682.

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