babcock and brown increased their stake.

Babcocks disclosed today that on Monday, they bought 3.69m shares of BLP at 60c in an on-market trade.

This volume appears in the total for the day but not in the intraday chart nor course of sales, so exactly what kind of on-market trade it was, I am not sure.

Apparently its the first time BnB bought any since August 2006, and increases BnB's stake in BLP from 10% to 12.34 %

Not sure what to make of this trade. If there was a keen seller for 3m+ shares, its a good thing that BnB would buy them because there is not much else buy depth.

I am rather unimpressed with the performance of this stock. I bought some in September 2006 when they first hit 80c but they have been more down than up since then.

At the last annual report, 2 different Babcock and Brown entities both owned 10% each in BLP.