Give to those affected by the Christchurch Quake here
Fletcher Building Ltd [FBU.NZX] is but one stock listed on the NZX that has benefited from speculation based on probable contracts to reconstruct Christchurch after the massive earthquake there last week that destroyed a great deal of the city and its infrastructure.
Clearly FBU do set to gain from this tragedy and the share price has gained rapidly over the last week since the Tuesday 22 event. The share price pre-quake was $8.28 and at close of trading last Friday finished at $8.63, a gain of around 4% in a market that is otherwise heading south.
The stock has risen by around 13% since the beginning of 2011 on news of a good 2011 full year result.
The only question for investors is that just when the re-construction of Christchurch can begin and of course just when the income for that re-construction appears on company books.
While the current share price is breaking 6 month highs it appears that the market now sees this stock as a relative bargain if the Christchurch factor is entered into the equation.
Proceed with caution if you are interested in this company as initial share price movements could be the market overreacting to the Christchurch quake and subsequent trading could see some selling.
Disc I own FBU shares in the Share Investor Portfolio
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