MARKET CLOSE NZ shares rise as GPG talks up Tower’s value, Port of Tauranga falls

Wed, 29 Aug 2012

By Hannah Lynch Aug 29 (BusinessDesk) - New Zealand shares rose, led by Tower after Guinness Peat Group said the insurer’s stock doesn’t reflect the value of its businesses. Port of Tauranga fell from an all-time high after confirming another record full-year profit. The NZX 50 Index fell 0.66 points, or 0.01 percent, to 3628.38. Within the index, 24 shares rose, 19 fell and seven were unchanged. Turnover was about $129 million. Tower, the insurance company hat’s about one third owned by GPG, rose 3.4 percent to $1.85 after GPG chairman Rob...

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