Synlait Milk's share price regained some ground following Monday’s 5.9 per cent slump on the back of a poor first-half financial result. The New Zealand stock exchange's benchmark index, the S&P/NZX 50, closed on Tuesday up 0.64 per cent at 12446.76 points. * Synlait profit hit by weak demand from its major customer a2 MilkAuckland International Airport's share price also gained on Tuesday. They’re very yield-focused so as interest rates tick up, the share price for those utilities does tend to trend downwards.”Overall, the recent selloff had ebbed and the sharemarket was effectively out of correction territory, Sullivan said. “That has been a catalyst for the New Zealand dollar coming off also trading at or near five-year highs recently.”

Source: Stuff March 30, 2021 05:26 UTC