5 Jun 2013

Tenon shares jump nearly 28% in seven days

7:15 pm on 5 June 2013

Shares in the wooden building products company, Tenon, have jumped nearly 28% since last Thursday when the company said the market for its products in the US is improving dramatically.

Tenon said US building permits in April for more than a million new homes was the highest recorded since June 2008 and US house prices are also rising - they rose 11% in the past 12 months, the largest annual gain since April 2006.

Tenon shares closed up 4 cents to $1.10 on Wednesday.