The Distillery: Bluescope blues

Jotters say things look pretty good at Bluescope despite the share price hit, while others suggest Challenger has been up to some pretty nifty dividend footwork.

BlueScope Steel’s shares were smashed yesterday to the tune of 16 per cent despite an enormous rebound in the company's fortunes. Australia’s business commentators are at pains to point out that BlueScope’s Paul O’Malley has done a terrific job turning the company around, but the market was expecting the turnaround to be sharp and almost unrelenting.

The Australian Financial Review’s Matthew Stevens writes that the decision to shut down Port Kembla to some extent hid the broader shift towards recovery at BlueScope.


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