NZ's Steel & Tube hits nearly 2-mth low; co plans to appeal level of fine imposed by court

Steel & Tube Holdings

20/11/2018 03:01

** Shares of Steel & Tube Holdings Ltd  STU.NZ  fall as much
as 3.9 pct to NZ$1.23, their lowest since Sept. 27 
    ** The steel distributor is to appeal the level of fine
imposed by Auckland District Court last month in relation to its
steel mesh  urn:newsml:reuters.com:*:nNZW5P414m
    ** Upon reviewing the decision, co believes the fine is
excessive 
    ** Stock posts biggest intra-day pct fall since Oct. 17
    ** Stock down 34.1 pct this year as of last close

 ((Simran.Lakhotia@thomsonreuters.com;))