Australia's Matrix Composites set for best day in 10-1/2 months on $19 mln contract

Golden State Mining

13/11/2023 02:49

** Shares of Matrix Composites & Engineering  MCE.AX  rise
as much as 26% to A$0.315, set for best day since Dec 21, 2022,
if gains hold 
    ** The technology solutions co says it got a contract to
supply subsea buoyancy equipment for an international offshore
project   
    ** The project, which is valued at A$30 mln ($19.08 mln),
was awarded by Subsea 7
    ** Matrix Composites stock at highest level since Sept 4
    ** About 376,257 shares change hands, compared with the
30-day average volume of 119,868
    ** MCE stock down 10.1% YTD, as of last close

    ($1 = 1.5723 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))