We've been getting rain in Melbourne - typical for this time of year. Nothing really drenching. However Elders BOM chart suggests Mallee and Wimmera have had average rain, as compared to the last three months which have been dryer than usual. Mildura (generally drier than mallee and Wimmera) is expecting rain every now and then over the next month.
I would expect the rainfall has been better than nothing :-)
New GNC shares to be issued Friday, or Monday - but only about 3% of market cap - all issued at $8.80. I doubt this little extra supply will make much difference. I think some future recipients will have been already adjusting their holdings, as they know how many they are getting. I think the SP will quickly recover to mid 9s once there is no avalanche of selling on the issue date.
GNC Price at posting:
$8.96 Sentiment: ST Buy Disclosure: Held
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