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Australia's Sims jumps to 17-year high on outlook lift

By Reuters News01:08 (UTC), 17 June 2026 Updated

** Shares of Australia's Sims SGM.AX rise as much as 8.1% to A$31.81, hitting their highest level since late September, 2008

** Metal recycler raised its 2026 underlying earnings before interest and taxes (EBIT) forecast to between A$420 million ($296.90 million)and A$435 million, from the A$350 million to A$400 million it estimated previously

** Says it expects earnings from its North American Metal businesses to increase in the second half of the year, driven by strong performances across Sims North America Metals and its joint venture unit, SA Recycling

** Shares up over 63% YTD

($1 = 1.4146 Australian dollars)

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