BUZZ-CK Hutchison rises on strong H1 results, 'reasonable chance' of ports sale going through
Reuters
Aug 15
BUZZ-<a href="https://laohu8.com/S/CKHUF">CK Hutchison</a> rises on strong H1 results, 'reasonable chance' of ports sale going through
** CK Hutchison0001.HK rises 2.5 to HK$53.3; set for biggest one-day pct rise since July 24
** Stock hits highest since July 29; top pct gainer on Hang Seng Composite Index tracking conglomerates .HSCIC
** Conglomerate posts 11% y/y jump in H1 underlying profit on post-IFRS 16 basis vs UBS forecast of 6% rise
** Says $22.8 billion ports business sale has "reasonable chance" of going through after plan to add major Chinese strategic investor to consortium amid Sino-U.S. trade tensions
** Group co-managing director says talks taking much longer than expected, but was "not particularly troublesome" because ports business delivered stronger-than-expected earnings, cash flow this year
** YTD, stock up 27.4%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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