Business Services Industry
Investors in steel set to benefit from brighter building outlook.
Australasian Business Intelligence, January, 2002
Jan 30, 2002 (The Sydney Morning Herald
ABIX via COMTEX) -- Shares in Australia's OneSteel and Smorgon Steel Group have been on the rise since December 2001. Both companies have been rediscovered by investors as the outlook for the construction industry brightens and the split-up of the Email assets draws to a close. Smorgon's share price rise has been the strongest ever since the company revised its preference share offer in mid-January 2002. The stock added another $A0.07 on 29 January to close at an 18-month high of $A1.27. Smorgon shares are up by 27 since the start of the year. OneSteel shares began recovering in mid-December. Since then they have risen from $A1.05 to $A1.21. Some analysts expect further price rises for both companies as the structural...
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