Why the Reece Share Price Rose Today

share market going up and down

What Happened to Reece’s Share Price?

Shares in Reece Australia Ltd [ASX: REH] rose over 4% today. The company supplies plumbing and bathroom products throughout Australia and New Zealand. The stock is now trading at all time highs.

Why Did This Happen to Reece Shares?

The stock market is pricing in strong earnings for the company. Yesterday the company released its half year results to the market. It had record first half sales and profit.

What Now for Reece?

In general, Reece is a tightly held stock. As long as Australia stays out of recession, the prospects for the company look bright. That should keep the share price high. A strong housing market means the good times for Reece should continue.

Callum Newman
Editor, Markets and Money

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Callum Newman

Callum Newman

Originally graduating with a degree in Communications, Callum decided financial markets were far more fascinating than anything Marshall McLuhan (the ‘medium is the message’) ever came up with.

Today Callum spends his day reading and researching why currencies, commodities and stocks move like they do. So far he’s discovered it’s often in a way you least expect.

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