London – Shares of all major rubber goods companies continued to fall over the recent weeks as the Covid-19 pandemic sent markets into freefall at the end of March.
Over the four weeks to 27 March, all companies covered by ERJ's Shares Monitor registered significant drops in stock values. Denver, Colorado-based Gates Corp. registered the highest drop as its share prices fell 27% to $7.26 at close of business 27 March.
Outside of the batch of companies covered by ERJ, shares in Asian manufacturers of rubber gloves continued to rise, albeit at a significantly slower pace.
Malaysia’s Top Glove’s shares jumped 12% to MYR6.32 over the four-week period, while Kossan Rubber Industries and Supermax Corp. posted 3.3% and 6.2% rises in their share prices respectively.
Avon Rubber plc (LSE) £2.730 (28 Feb) £2.360 (27 March)
Daetwyler Holding AG (SWX) CHF153.80 to CHF156.20
Trelleborg AB (STO) SEK148.30 to SEK 102.15
Hexpol(STO) SEK71.70 to SEK58.00
Semperit AG (VSE) €10.90 to €10.2
Gates (NYSE) $10.48 to $7.62