Market shows alarm at Synlait’s China downgrade
Milk processor describes ‘softening and contracting’ of infant nutrition market.
Shares in milk processor Synlait opened more than $1 down and continued falling after the company warned its profits would be affected by a significant slowdown in China’s infant formula market.
By early afternoon, the stock was trading at $6.77, down 18% or $1.52 on yesterday’s closing
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