Business
ASX up 0.5%; materials and energy surge on rising prices – The Sydney Morning Herald
The S&P/ASX has bounced around at the open and was last 0.5% higher at 7167 points. Materials and energy stocks are surging on higher commodity prices.
Codan shares continued their post-COVID surge to new highs this morning after the radio and metal detector company announced it was selling its tracking technology business to Caterpillar.
Codan – now a $3.3 billion company – jumped more than 3 per cent to a record $19.19 at Wednesdays open.
Codans Donald McGurk has been chief executive since 2010. Credit:Daniel Kalisz
The South Australian firm has nearly quadrupled in value since hitting a floor during the 2020 coronavirus crash and is up by two-thirds…
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