Well I suppose we need to see today’s price rise in the context of the overall slide from above $300 but still ......that was one healthy bounce !
SPP participants back in the money which can’t be a bad thing for overall sentiment.Will be interesting to see whether half of it gets given back tomorrow (which often happens with a one day surge like this )
The market was obviously reassured by this morning’s results announcement - it was pricing in a less robust result it would appear.
I let the SPP pass but ended up topping up last week on market at around the SPP discounted price. I just don’t like the uncertainty around allocation amounts and that you have to sweat on your refund if you aren’t allocated all you ask for.
Anyway, I’m reasonably confident that the stock price has been undermined by the placement/SPP and will head higher from here (with a bit of bouncing up and down of course)
GLTAH
Ann: Half Year Results Announcement, page-35
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