Dont understand it. Last sale on ASX at $14.53 aud, yet at opening market reasonable buy/sell number transacting at $15.65 nzd on the NZX.
I know there is an exchange rate difference but not that much. Something is afoot, but I dont know what. It would look like somebody is trying to buy up a few shares, perhaps by selling on the ASX to bring the price down, and then cleaning up on the NZX at a slightly higher price, than is warranted. Is the market being manipulated. No doubt foreign buyers would like to get a major piece of one of the big four at never to be repeated prices.
We in NZ are usually guided by the ASX and our prices follow the ASX. Definitely not the other way around. Must be big or why would they carry it out this way. I think there is a takeover coming or at the very least a substantial holder wanting a substantial more than they would normally get. After all MC has dropped by some 50 billion. Thats no mean amount, to recover.
WBC Price at posting:
$14.53 Sentiment: Buy Disclosure: Held
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