The Amcor Limited (ASX: AMC) share price hit a 52-week high of $15.57 per share today despite the global packaging business releasing no specific news to the market.
The global packaging business is exposed to the strength of the global economy and emerging markets as a lot of its consumer staples packaging products tend to sell more as economies pick up speed.
As such the positive manufacturing data out of China today alongside reported progress in solving the tariff war between the US and China probably encouraged investors to bid the shares higher.
For the six month period ending December 31 2018 Amcor posted an adjusted profit of US$328.5 million on revenue of US$4,502 million with an interim dividend of US21.5 cents per share. As such it offers investors exposure to a weaker Australian dollar and a healthy dividend yield.
However, ethical investors may be put off by the company's heavy role in the manufacturing of cigarette packaging.
