Shares of Israeli liner operator Zim soared more than 6% to a 52-week high of $26.20 in the first hours of trading on the New York Stock Exchange after it was confirmed that a port strike on the US East Coast and Gulf of Mexico will go ahead from Tuesday.
Zim is the prime pick of the US-listed container shares to benefit from additional disruption in the view of US investment bank Jefferies, and investors were active, trading nearly 6m units by mid-afternoon against the company’s average volume of 5.3m.
