Brookfield Business Partners Hits Day High with 9% Surge Amid Market Decline

Brookfield Business Partners LP has experienced a significant surge today, gaining 9.0% and reaching an intraday high of CAD 50.36. This performance stands in stark contrast to the S&P/TSX 60, which has declined by 1.46% on the same day. Over the past week, Brookfield has shown a robust increase of 7.44%, while its one-month performance reflects a remarkable 34.04% rise.
In terms of annual performance, Brookfield Business Partners LP has achieved a notable 56.17% increase, significantly outperforming the S&P/TSX 60's 20.71%. Year-to-date, the stock has risen by 47.88%, and over the last three years, it has delivered an impressive 93.03% return.

Despite these positive trends, the company faces challenges, including a significant decline in pre-tax and net profits reported in June. Additionally, promoter confidence appears to be waning, with a slight decrease in their stake in the company. Brookfield operates within the miscellaneous industry and currently holds a market capitalization of CAD 3,303 million, with a P/E ratio of 1.00 and a return on equity of 88.81%.