BlueScope Steel

BlueScope Steel (BSL)

Sat, 31/05/2008 - 02:02

Stock Code

BSL

Stock Exchange

Australian Securities Exchange

Operating mainly in the Asia Pacific, North America and Europe, BlueScope is now one of the leading manufacturers and marketers of steel products. BlueScope Steel was listed on the Australian Stock Exchange on the 15th of July 2002. Its annual revenue reaches approximately AUD$ 8 billion. Its main office is located in Victoria, Australia and around 18,000 employees are working for BlueScope.

Top 3 Winners of the ASX for This Week


BlueScope Steel (BSL), a renowned investor in the steel industry that concentrates in Europe, North America and Asia Pacific was the best performer of the 8th week in ASX100 with a gain of 10.3 percent or 25 cents closing the week at $2.67.

Losing Stocks of the 2nd Week


WorleyParsons (WOR), an Australia based company that concentrates on engineering design and project related services along with maintenance and reliability support services to diversified industrial segments with a market capitalisation of $6042.6 million was the worst performer in the ASX100 list that lost 16.7 percent or $5.11 to its stock price closing the week at $25.35.

BlueScope Steel: Winner of the week


BlueScope Steel (BSL), a major investor in the steel industry that focuses in Europe, North America and Asia Pacific was the best performing stocks in ASX100 index for the 29th week that saw a rise of 15.7 percent or 38 cents in its stock price closing the week at $2.80.

Perilya: Best Performing Stock for the Week 28 of 2008


Perilya (PEM) was the overall best performing stock taking in a 20.96 percent increase. It was a mixture of toll road development, infrastructure services, steel manufacturing, and mining companies who were among the best performing stocks for the week 28 of 2008 of the Australian sharemarket: Transurban Group (TCL), Babcock & Brown Infrastructure (BBI), BlueScope Steel (BSL), Perilya (PEM), Macarthur Coal (MCC). These best performing stocks managed gains above 10.04 percent by the end of the trading week.

Emeco Holdings (EHL): Worst Performer for Week 45 of 2007


Emeco Holdings (EHL) was the overall worst performing Australian company this week taking in a 18.6 percent decrease in its share price. It was a mixture of mining, support services, retail and steel companies who were among the worst performing stocks for the week 45 of 2007 on the Australian stockmarket: Brambles (BXB), Wasfarmers (WES), BlueScope Steel (BSL), Emeco Holdings (EHL). These worst performing stocks for week 45 recorded losses above 11.8 percent by the end of the trading week.

Henderson Group (HDI)


Henderson Group (HDI) was the overall worst performing stock taking in a 20.19 percent decrease. It was a mixture of energy, securities management, asset management, steel and financial services who were among the worst performing stocks for the week 42 of 2007 on the Australian sharemarket: AGL Energy (AGK), Computershare (CPU), BlueScope Steel (BSL), Henderson Cdi (HGI), City Pacific (CIY). Financial services providers were the majority of the worst performing stocks for the past week.

Australian Steel Sector Update


Australian investors can gain exposure to the steel sector in a number of ways, but a more direct play would be to invest in stocks whose earnings are leveraged to the steel cycle. Australian sharemarket analyst, Macquarie Research Equities (MRE), have provided a steel sector update with the three stocks that stand out. The three outstanding steel sector stocks are OneSteel (OST), Bluescope Steel (BSL) and Sims Group (SGM). The analyst remains bullish on the outlook for the steel sector, and have "Outperform" recommendations on two of three aforementioned stocks.

Bluescope Steel Update


Bluescope Steel has a maintained reduce 2 broker call and a $4.95 share price target from Australian markets analyst UBS. South East Asian site tour preview: BlueScope Steel hosting tour to Malaysian and Indonesian assets: BlueScope are hosting an analyst site visit to its assets in Indonesia and Malaysia. These operations make an interesting contrast, with the Malaysian business having been volatile and now coming through a restructuring, vs Indonesia which has been a solid steady performer. Will assess demand outlook, supply threats, and margin concerns: Over recent years Indonesian demand has been strong, while Malaysian has been weak, they will look to assess the outlook going forward. Other factors to consider include the impact of growing Chinese self sufficiency in downstream products, and narrowing steel price spreads in the Asian region. Steel prices globally are coming down, zinc prices are lifting, scrap prices are strong, the outlook for iron ore and coking coal is improving and the A$ is very strong. Under this environment we believe it will be a challenge for BlueScope Steel to outperform. Their valuation remains $9.10, our price target, set at a 15% premium to global peers on FY08 EV/EBITDA remains $9.45

Australian Steel Sector


There are three big steel companies listed on the Australian Stock Exchange: Bluescope Steel (BSL), Smorgon Steel (SSX) and OneSteel (OST). Recent global steel production data shows continued strength in the steel market place, with prices also remaining strong.

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