Australia's Matrix Composites & Engineering rises on purchase order

Matrix Composites & Engineering

21/12/2022 24:35

** Shares of Australia's Matrix Composites & Engineering Ltd
 MCE.AX  rise as much as 28.3% to A$0.295 — hitting their
highest since March 5, 2020
    ** Stock set to mark their best day since Dec. 4, 2020, if
gains hold  
    ** The engineering products and service co secures contract
for a purchase order of about A$44 mln ($29.42 mln) from Saipem
    ** Adds that contract for supply of Subsea Umbilicals,
Risers and Flowlines (SURF) products
    ** About 578,600 shares change hands, compared with the
30-day moving average of 266,600 shares
    ** MCE has risen 35.3% this year, as of last close
($1 = 1.4954 Australian dollars)
 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))