The company is on a sound financial footing as per Friday's after market news from the company. They will still pay a $0.40 cent plus distribution at the end of June.
JP Morgan have had close talks with CNP management and have given it a short term price target of $3.50 plus.
St George Bank are very comfortable with their $400 million exposure. Colonial are buying more shares.
New York was up and the consumer spending figures in the US were well up. This is great news for shopping centre owners. The Australian shopping centres as reported in the papers will sell for well above book value.
The bottom of the day may well be the price on opening.
Class actions are very difficult to get up in Australia - they just end up to nothing. The only people who make money out of them are the solicitors.
The constant negativity in the media is what sells newspapers and is on the whole total rubbish. If there is a class action to be had it should be against the newspapers for unnecessary scaremongering !
Those who bought on Friday at the close when everyone else was panic selling before a weekend (a classic sucker sell)will reap the benefits !
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