Australia's Sims near 3.5-year low on weak earnings forecast

Sims

07/05/2024 04:00

** Shares of Sims Ltd  SGM.AX  slide as much as 11.6% to
A$10.44, their lowest since Nov 2020
    ** Stock posts biggest intraday pct loss since Sept 2023
    ** Metal recycler expects underlying EBIT in H2 will be
marginally lower than H1 as its faces increased challenges
    ** Trading vol over 2x the 30-day daily moving avg
    ** Stock last dowb 8.2%, extending YTD losses to ~30%

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))