Stocks of the Hour: Atlas Arteria, AD1 Holdings & Sims

Company News

by Lauren Evans

IFM Global Infrastructure Fund (IFM) has obtained a 15 per cent stake in toll road group Atlas Arteria (ASX:ALX), which includes shares purchased after the market closed yesterday. IFM indicated that it may submit a non-binding takeover bid, however Atlas said it had not received any requests from IFM at this stage. Shares are trading 16.3 per cent higher at $8.26.

The NSW government has renewed the managed service agreement with AD1’s (ASX:AD1) recruitment software ApplyDirect for another two years. Under the agreement, the tech company will provide ongoing hosting and maintenance of the career’s platform and the provision of related digital services. Shares are trading 14.3 per cent higher at 1.6 cents.

Higher metal prices and improved metal volumes have led Sims (ASX:SGM) to provide financial year 2022 guidance that is higher than its FY21 result. The recycling business expects underlying earnings before interest and taxes to be between $750 million and $770 million. Shares are trading 0.1 per cent higher at $18.14.

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