I've just been going through the CNP broking reports for last Wednesday. As I have said before, the data is always lagged by 3 days so there is always a delay.
On Wednesday last week (9/4), Macquarie Bank picked up a cool 3m CNP shares on-market. In fact between Mon and Wed, they net-bought 3.25m CNP shares in total. This takes their April total to about 4.2m shares or around 0.5% of the company. Still not huge so it hasn't changed my view on them as a suitor, but this is the first time I have seen Macquarie do anything other than sell. The purchase on Wednesday makes them the second highest net-buyer of CNP shares this month.
On a more interesting note, Deutsche Bank rank number 1 for net-buying. They have picked up about 1% of the company in April, again with the majority of the volume coming between Mon and Wed last week. This is more than likely for a client rather than the bank itself.
The retail brokers (Commsec, eTrade and Westpac) still dominate the turnover, but this is similar numbers of both buy and sell volume indicating day-trading.
This is an interesting development from these two insto players so all-eyes will be on the report that comes out tomorrow.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
