Shares in Treasury Wine Estates have surged

Shares in Treasury Wine Estates have surged more than eight per cent as the wine supplier provided a bullish outlook at its annual general meeting. TWE shares were 81 cents, or eight per cent, higher at $10.93 at 1402 AEDT. Chief executive Michael Clarke told shareholders gathered in Adelaide that TWE, whose labels include Penfolds, Wolf Blass and Lindeman’s, had a very bright future. “I am confident that we can continue to deliver outstanding results and, therefore, further value creation for you,” Mr Clarke said.