MARKET CLOSE: Tegel jumps 37% on takeover offer; Westpac, ANZ drop as banking scandal continues

Thu, 26 Apr 2018

By Sophie Boot April 26 (BusinessDesk) - New Zealand shares dipped with Westpac Banking Corp and Australia & New Zealand Banking Group down as the banking scandal across the Tasman deepens, while Tegel Group surged on a planned takeover offer. The S&P/NZX50 Index fell 6.59 points, or 0.1 percent, to 8,282.05. Within the index, 21 stocks fell, 17 rose, and 12 were unchanged. Turnover was $163.6 million. The biggest story of the day was outside the benchmark index, where Tegel Group surged 37 percent to $1.12. Philippines-based poultry g...

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