Business Services Industry
Tables are turned as laggards move from the wings to centre stage.
Australasian Business Intelligence, September, 2006
Byline: Richard Hemming
Sep 17, 2006 (The Australian Financial Review - ABIX via COMTEX) -- Although there are a range of reasons provided for share price turnarounds, many perceived "laggards" have become popular in 2006. One such stock is Amcor, a packaging group which has collapsed 23 per cent in three years, compared with a 58 per cent improvement in the All Ordinaries Index in the period. In September 2006, however, Amcor has risen nine per cent, compared with large falls for strong earners in the same period, such as ABC Learning, BHP Billiton and WorleyParsons. UBS Global Asset Management's Paul Fiani believes that many of the low price-to-earnings (P/E) stocks have improved in August and September 2006 due to private equity firms.
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