Printers escape worst of stock plunge

Printers escape worst of stock plunge
Most ASX print businesses recover in full this morning

Major print businesses have been affected to varying degrees by the Australian stock exchange plunging 3.2 per cent or $56bn this week, Tuesday being its worst one day point fall for three years.

Out of the major printers, PMP saw a small dip to 45c, down from 46c on Monday, but by Wednesday lunchtime it was back at 46c. IVE took a hit to $2.12 from $2.20 on Tuesday, but was back to $2.19 on Wednesday.

Wellcom also suffered, with a decrease of 5.37 per cent, down to $4.41 on Tuesday from $4.66 the day before. Opus saw the biggest impact with a stock price drop of 8.7 per cent on Tuesday to 42c from 46c on Monday, on Wednesday it was still on 42c.

[Related: Shares plunge on PMP downgrade forecast]

Amcor saw a dip of 1.24 per cent to $14.15 on Tuesday, down from $14.47 on Monday. Wednesday afternoon has seen it had more than recovered to $14.66.

The big publishers were not as lucky. News Corp shares fell by 4.76 per cent down to $20.04 from $21.21 on Monday, before coming back up to $20.60 on Wednesday. Fairfax went down by 4 per cent to 68c from 71c on Monday. It was still down to 68c by Wednesday afternoon.

The S&P/ASX 200 index dropped 192 points to 5833. The Australian market was affected after US stocks plunged on Monday, the Dow having its largest one day intraday point fall, down 4.6 per cent.




Copyright © 2018 Haymarket Media. All rights reserved. This material may not be published, broadcast, rewritten or redistributed in any form without prior authorisation.
Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions.