"It's back 2 percent for the week rolling in a market that's been driving to record highs on a daily basis," McIntyre said. New Zealand shares hit a fresh high led by positive earnings from Synlait Milk and Steel & Tube Holdings, while Auckland International Airport fell. "The market may have thought Metro may try to bed down the NZ side of their business before they took off and made another investment outside of New Zealand," McIntyre said. Synlait's shares, which aren't on the NZX 50, gained 7.8 percent to $3.73. "Their gross profit per tonne jumped, there's solid demand for canned infant formula," Peter McIntyre, investment adviser at Craigs Investment Partners, said.

Source: New Zealand Herald August 12, 2016 06:00 UTC