London – Shares of rubber gloves makers were lacklustre in recent weeks reflecting the recent progresses made in vaccine formulation for Covid-19.
Malaysia’s Top Glove’s shares slipped 22% over the four weeks to 4 Dec, as temporary closures of some factories reduced the group’s utilisation rates and projected annual sales.
Kossan Rubber and Supermax also registered double-digit declines in shares during the period.
Other major rubber goods manufacturers monitored by ERJ performed relatively strongly, with Avon Rubber being the only company to see a decline in share values.
Avon Rubber plc (LSE) £4.285 (6 Nov) to £4.105 (4 Dec) – down 4.2%
Daetwyler Holding AG (SWX) CHF227.0 to CHF242.0 – up 6.6%
Trelleborg AB (STO) SEK160.05 to SEK179.75 – up 12.3%
Hexpol AB (STO) SEK83.10 to SEK87.50 – up 5.3%
Semperit AG (VSE) €23.07 to €24.25 – up 5%
Gates Corp. (NYSE) $12.04 to $13.10 – up 8.8%
Top Glove (KLSE) MYR8.50 to MYR6.60 – down 22%
Kossan Rubber (KLSE) MYR7.49 to MYR5.58 – up 25.5%
Supermax Corp. (KLSE) MYR9.78 to MYR8.29 – up 15%