MARKET CLOSE: NZ shares rise; Tegel gains on Australian outlook, Port of Tauranga drops

Fri, 19 Aug 2016

By Sophie Boot Aug. 19 (BusinessDesk) - New Zealand shares rose, led by Tegel Group on prospects for growth in Australia while Port of Tauranga dropped following broker downgrades. The S&P/NZX 50 Index gained 20.14 points, or 0.3 percent, to 7,405.26. Within the index, 24 stocks rose, 21 fell and six were unchanged. Turnover was $162 million. Tegel Group led the index, up 2.9 percent to $1.78. The shares have gained 8.5 percent since an announcement yesterday that it will be able to export raw poultry to Australia for the first time. ...

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