ASB +3.21%: announced a milestone contract win at lunchtime today, helping shares in the shipbuilder trade higher through the afternoon against a weaker session more broadly. Austal won their first steel vessel contract from the US Navy, a $US145m contract to build two salvage and rescue ships. They have invested a significant amount in getting their steel ship capabilities up to standard, and while this isn’t the first contract, it is an important step to fully utilizing their capabilities with the world’s largest navy.
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Performance update for March, stocks that drove returns & our current positioning
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Wednesday 24th April – ASX200 +17pts, Silver Lake (SLR), Kogan (KGN) & CPI
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Market Matters Research Lead Shawn Hickman with David Koch
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Wednesday 24th April – DOW +263pts, SPI +27pts
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MM is long and bullish ASB
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