ASX-listed shares of Sims skid on 'soft' market, uncertain outlook

Sims

16/08/2022 02:16

** ASX-listed shares of the metals and electronics recycler
 SGM.AX  fall as much as 7.6% to A$14.51
    ** Stock later pares some losses to trade 5.9% lower, on
track for worst day since May 6 if current levels hold
    ** Co says FY23 has started with "soft" market conditions
and warns short-term outlook remains uncertain due to
significant volatility  urn:newsml:reuters.com:*:nFWN2ZR4ZL
    ** Adds that FY results will depend on how quickly, and to
what magnitude, global markets recover from the interest rate
hike-induced slowdown
    ** About 513,000 shares traded vs their 30-day moving avg of
about 681,000 shares
    ** Up to Monday's close, stock down 2.2% this year

 (Reporting by Shashwat Awasthi)
 ((Shashwat.Awasthi@tr.com
mailto:Shashwat.Awasthi@thomsonreuters.com))