New Zealand's Tower hits over 4-month high on annual profit forecast hike

Tower

07/10/2026 24:48

** Shares of Tower TWR.NZ rise as much as 2% to NZ$2.08, their highest level since mid-May
** Stock on track to clock its third straight session of gains, if trend holds
** Insurer raised its FY26 underlying NPAT forecast on Tuesday, expecting between NZ$69 million and NZ$79 million  ($38.80 million - $44.43 million)
** Previous estimate was NZ$55 mln to NZ$65 mln
** More than 369,400 shares change hands, 1.8x the 30-day average 
** Stock up 3% YTD, including session's moves

($1 = 1.7781 New Zealand dollars)

 (Reporting by Rudrannsh Mehra in Bengaluru)
 ((Rudrannsh.Mehra@thomsonreuters.com))