MARKET CLOSE: NZX 50 hits record as Comvita downplays rust outbreak; Tower gains on takeover

Tue, 27 Jun 2017

By Paul McBeth June 27 (BusinessDesk) - New Zealand shares rose to a new record, led by a recovery in Comvita after the manuka honey health products maker downplayed the impact the Myrtle Rust fungal disease would have on the wider industry, while Tower jumped on news its board was backing an Australian takeover bid. The S&P/NZX 50 Index climbed 30.85 points, or 0.4 percent, to 7,626.35, having reached an intraday high of 7,637.05. Within the index, 27 stocks rose, 15 fell and eight were unchanged. Turnover was $130 million. Comvita...

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