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Hyundai Heavy Jumps After Posting Biggest Profit in 3 Years

  • Quarterly earnings benefited from cost cuts, oil-refining
  • Daiwa Securities, Citigroup raise recommendations on stock
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Hyundai Heavy Industries Co. gained the most in more than a year in Seoul trading after the world’s largest shipbuilder posted its biggest quarterly profit since 2013.

The shares rose 9.6 percent, the biggest advance since November 2014, to close at 126,000 won in Seoul. The stock has climbed 44 percent this year, compared with 3 percent gain in the benchmark Kospi index.