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Home > News > Gunns shares fall on doubt over pulp mill > Gunns shares fall on doubt over pulp mill

Gunns shares fall on doubt over pulp mill [1]

Shares in timber company Gunns fell sharply in intraday trading today, following reports that the ANZ bank would pull out of funding Gunns' controversial $2 billion pulp mill project in Tasmania. At 12.51pm, Gunns was down 18 cents, or 5.61%, at $3.03, having touched a low for the day of $3.01. "There's a bit of uncertainty over the funding of the mill,'' CMC Markets head of trading James Foulsham said. "But there still hasn't been big volumes going through. "So I don't think it's any wholesale dumping by any of the institutional investors or anything like that.''

Publication Date: 
23/05/2008
Age (Australia) [2]
Tags:
Paper and Pulp Industry [3], Timber Industry [4]
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Source URL: http://admin.indiaenvironmentportal.org.in/news/gunns-shares-fall-doubt-over-pulp-mill

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[1] http://admin.indiaenvironmentportal.org.in/news/gunns-shares-fall-doubt-over-pulp-mill
[2] http://admin.indiaenvironmentportal.org.in/category/newspaper/age-australia
[3] http://admin.indiaenvironmentportal.org.in/category/thesaurus/paper-and-pulp-industry
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/timber-industry