Steel & Tube shares recover from 15-year low

Fri, 22 Jul 2016

By Sophie Boot July 22 (BusinessDesk) - Steel & Tube Holding's share price has recovered from a fifteen-year low after a flow of bad news ceased. The stock last traded at $2.20, having gained 18 percent so far this month, and rising 4.3 percent today, making it the top performer on the S&P/NZX 50 Index for this session. "On the back of relatively low volumes this week it's recovered, in my view, closer to fair value, having been hammered after a long period of bad news," said James Bascand, equity analyst at Forsyth Barr. "It got to a...

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