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Australia's Downer EDI rises on social housing maintenance contract

By Reuters News

** Shares of Downer EDI DOW.AX rise as much as 2.7% to A$7.330, their highest level since August 19

** Stock logs its largest intraday pct gain since September 30

** The road services and utilities company is awarded a new contract by Homes Victoria to deliver responsive maintenance and repair services for social housing across the Department of Families, Fairness and Housing East Division for up to nine years

** Company adds that contract set to start on February 1, 2027 and is valued at about A$400 million ($281.20 million) for the base scope over the full term

** YTD, Downer stock down 8.4%


($1 = 1.4225 Australian dollars)

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