It's def an upswing for EML but trying to work through the maths...

It's def an upswing for EML but trying to work through the maths on this and I cant recall exactly the float held in Euros. Have to assume its 200m to 300m but if anyone has the numbers to hand we can work it through.

so the effect is 0.5% reduction in the negative interest rates EML were shouldering and having to pay for having cash on deposit. Sounds mad but funds held in euros meant you have to pay the bank a fee for holding them (go figure...). So on the basis that the amount of negative interest reduces by the full 0.5% (and that the bank(s) passes through all the reduction we should see 300m euros at 0.5% saving which is 1.5m euros?

its a bit short of Ron's number but going in right direction. Euro to AUD roughly 1.5x means 2.25m AUD to ebitda. Question then is there a further rise likely to come in next 3 to 6 months and are the level of funds held more than 300m euros.

it is good news though for EBITDA.
Has anyone heard anything else ref CBI? Or is it more likely to come out with annual results next month?

tempted to change sentiment to buy being honest. Volumes have dropped down to normalised kind of levels