Business
Why the Downer (ASX:DOW) share price is outperforming today // Motley Fool Australia
The Downer EDI Limited (ASX: DOW) share price rallied this morning after it announced the sale of its blasting business for $62 million.
Shares in the engineering group jumped 2.1% to $5.31 at the time of writing when S&P/ASX 200 Index (Index:^AXJO) gained 0.4%.
In case you didn’t notice, ASX stocks have been on a bit of a divesting spree as they look for creative ways to unlock value during these uncertain times.
Downer share price jumps on divestment news
Downer’s latest move seems to have worked. Its peers are lagging behind today with the NRW Holdings Limited (ASX: NWH) share price inching up 0.4% to $2.57 and Seven Group Holdings Ltd (ASX: SVW) share price gaining 1.2% to $22.32.
Downer is streamlining its business to…
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