Midas stock recovers little ground after steep falls

Singapore

THE mojo appeared to have returned somewhat, albeit not enough to erase previous hefty losses, to Midas Holdings on Wednesday after the company stayed pat with its earlier outlook remarks that it may benefit from China's local infrastructure spending despite recent news reports stating otherwise.

The stock rose to an intraday high of 12.6 Singapore cents in the early hours of trading but settled off those highs to finish the day at 11.8 Singapore cents - up 0.3 Singapore cent or 2.6 per cent.