BUZZ-Australia's Austal hits over 2-week high on ending US Navy contract
Reuters
Oct 01
BUZZ-Australia's Austal hits over 2-week high on ending US Navy contract
** Shares of shipbuilder Austal ASB.AX rise 4.8% to A$8.11, their highest level since September 15
** On track for best day since August 29 if current gains hold
** Co to permanently stop construction of T-ATS 14 and T-ATS 15 ships for U.S. Navy, which were financially onerous
** About 3.3 mln shares change hands, 1.8x the 30-day average of 1.8 mln
** Stock has more than doubled in value so far this year
(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((Jasmeenaraislam.Shaikh@thomsonreuters.com;))
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