The Emeco Holdings Limited (ASX: EHL) share price is up 10.29% on Monday, bouncing back from a dismal performance last week.
The past seven days have been a rollercoaster for Emeco investors. The earthmoving equipment hire company was the worst performer on the ASX 200 last week, down by more than 9.7% to hit a new 52-week low. This coincided with a fresh wave of negative sentiment surrounding China's economic growth, brought to light by a Chinese manufacturing survey which showed evidence of a contraction in factory activity.
It appears that the sentiment has shifted, however.
With a slew of ASX 200 stocks in the green today, Emeco is leading the charge. Very positive US payroll figures combined with a less hawkish message from US Federal Reserve Chair Jerome Powell have fueled a rally in markets. With this swing in investor attitudes, it's no surprise that the Emeco Holdings share price is bouncing back today.
