The SP has been trending down in parallel to the EU debt...

The SP has been trending down in parallel to the EU debt problems and risk aversion.

I haven't done the analysis, but I would suspect the A$ to have some impact on the DYE SP for the German investors.

As the TATA announcement of whether to proceed with a product rollout approaches, I guess investors realise the very real material risk to the SP that this announcement will pose.

If TATA proceed, DYE will have to be re-rated and the SP should go nuts. If TATA don't, I believe the current SP captures a fair chunk of that reality, but there will still be a downward movement in SP.

Ironically, having such crucial announcements in the distant future is probably better than having it in the near term.

I guess we just have to wait and see.