Murray & Roberts shares down

Shares in construction group‚ Murray & Roberts (MUR)‚ fell by as much as 9.64% in early trade on Wednesday amid thin volumes.

At 12.40pm‚ shares were trading at R21.70‚ 2.69% down from its close on Friday. Over the past twelve months‚ its shares have fallen 12.46%.

“The stock's initial fall was in the opening auction on thin volumes. It has subsequently recovered to be down in line with other contractors. Weak results or trading statements from the sector over recent weeks have weighed on stock prices‚” said Peter Steyn‚ an analyst at Macquarie First South Securities.

Murray & Roberts' 2012 results will be published on Wednesday‚ followed by a presentation by management on Thursday‚” Steyn said.

On August 16 2012 the group said in a JSE Sens announcement that it was expecting its diluted headline loss per share for the year ended June 2012 to be between 44% and 48% from the corresponding period in 2011.