re: Ann: Ceasing to be a substantial holder f...
Ocker, you are absolutely correct about their hedging policy, but you have to remember that the A$ was firming in the second half of the calendar year. Average June 2010 was 0.85, average December was 0.99. That was a 16% movement.
I wouldn't worry about a few delistings in Woolies, any good consumer company should have a pipeline of new products to be listed. Hopefully with more going in, than coming out.
But I feel you are right to be cautious. It is the Chinese year of he rabbit and the market seems to be acting lke a bunny running round in circles. Macro eceonomic issues could still destroy market value.
In their half year presentation they said that were looking for acquisitions, but we have not heard anything. TFP
MCP Price at posting:
$3.02 Sentiment: LT Buy Disclosure: Held
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