From yesterday headline, great half year result and now short covering leading upto 60 cent dividend.
Leighton (LEI.AU) shares are up 5.2% at A$19.15, after hitting a 5-month high of A$19.22 this afternoon. Traders are attributing the rise to short covering, given that about 15% of Leighton's market capitalization has been sold short. "There's been no borrow (stock available to sell short) for the past few weeks," says an institutional trader at a major brokerage.
LEI Price at posting:
$20.11 Sentiment: Buy Disclosure: Held
