What: QBE Insurance Group Ltd (ASX: QBE) has fallen 1.4% today despite a solid rally on the ASX which has pushed the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) up over half of one percent.
So what: The cause of the fall would appear to be a note to clients by an analyst at broker Morgan Stanley which suggested that the new incoming QBE Chief Financial Officer Mr Pat Regan may take the opportunity to raise fresh capital.
Now what: News overnight that the European Central Bank (ECB) has dropped the rate on bank deposits to negative, coupled with an uninspiring general outlook for QBE leaves investors with little reason to get excited about the global insurer. The one saving grace (arguably) is the stock price, which in the long term could represent good buying
Zess Do you really belive in the above, I wonder
( for me its hog wash )
QBE Price at posting:
$10.93 Sentiment: Buy Disclosure: Held
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