Lots of comment here today. Always does get a bit lively when there's a 30% increase (or decrease for that matter.)
I think that, as many have suggested here, the price action was unwarranted on the back of quite small (and mostly already known) news. But I think also that the price action indicates how hungry the market is for news from outside of China. We all know that China is,for now, the big fish and we have been told already that its mostly business as usual in China. This news basically says that it is also largely business as usual for international business. I have always felt that the market puts a premium on international business and will also put a premium on future larger international announcements and growing international pipeline. Expect to see Chinese announcements create a smaller impact than similar international announcements at least until those enormous Chinese projects start to pay their huge dividends. The market will value real hard cash no matter where it comes from.
The market just needs their faith reignited and this announcement has to an extent done just that. Lets hope that we hold onto these gains and we can now put a line in the sand and start to build confidence again.
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