NZ's Steel & Tube jumps most in over 1 week on positive outlook

Steel & Tube Holdings

10/12/2023 23:11

** Shares of Steel & Tube Holdings  STU.NZ  rise as much as
3.9% to NZ$1.06
    ** Stock posts its biggest intraday gain since Nov. 28, if
current gains hold
    ** Steel products distributor says co on track to deliver
1H24 normalised earnings before interest and tax (EBIT) in range
of NZ$10 million ($6.12 million) to NZ$11 million 
    ** Co remains positive about longer term macro-trends
    ** Stock has fallen 19.7% YTD as of last close
($1 = 1.6343 New Zealand dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru; Editing by
Lincoln Feast.)
 ((Rajasik.Mukherjee@thomsonreuters.com))