Clover Industries: Stock fluctuates on negotiation news

Comment on this story


Clover Industries shares initially leapt to an all-time high in brisk trade yesterday but ended the day lower after the biggest local dairy processor said it had entered talks that could affect its stock price, without giving more details. The shares climbed as much as 2.2 percent to R20.20, beating its highest close since it listed in December 2010. However, it closed 1.32 percent down at R19.51 as about 1 million shares traded, almost triple the three-month daily average. Clover has gained 8.8 percent this year, the best performer on the 10-company food producers and processors index, and is valued at R3.61 billion. Earnings a share rose as much as 90 percent in the six months to December last year, after milk prices increased and marketing costs were cut, Clover said last month. – Bloomberg


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks