The smaller of the two funeral companies listed on the ASX is proving to be something of a haven in the broader sharemarket rout as investors eye a potential rise in activity should the coronavirus mortality rates start increasing at a faster rate in Australia.
Propel Funeral Partners, with about 6.3 per cent of Australia's funerals market, was one of the few stocks on the ASX to be making gains for most of Monday's session and was up by 1 per cent to $2.93 by 1.45pm AEST, before finishing marginally lower for the day.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
