Australia's Finbar hits 9-mth high on $23 mln worth Nov contract wins

Finbar

04/12/2020 04:35

** Shares of Finbar Group  FRI.AX  rise as much as 17.3% to
A$0.915, highest since Feb. 27 
    ** Perth-based property development firm says it secured 56
contracts worth A$30.9 ($22.95) mln in Nov  urn:newsml:reuters.com:*:nFWN2IJ0U7
    ** Adds increased economic activity in WA, low interest
rates and residents returning to the state have driven monthly
sales volume 
    ** "Current record low vacancy rates across Perth were also
pushing many to buy rather than rent, with rental prices only
expected to increase in 2021" - Managing Director Darren Pateman
    ** Stock posts its biggest intraday pct. gain since Mar. 25
    ** Shares down 9.3% this year, as of last close
    
  


($1 = 1.3466 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))