Ann: Market Release - CEO Resignation , page-10

pf - it has me puzzled that the high AUD doesn't deter more investors, but international central banks are propping up the AUD by buying near record highs. I think they put the high AUD into their spreadsheet, and look at the trend as being up, and see that as a counterbalance to risks of exchange rate adjustment? I think business buyers can hedge the AUD, and then look at that as an extra transaction cost. All the same I cannot disagree that the high AUD is a headwind. I do think the odds are low but possible.

PCLN and Expedia are trading at about 26 to 30 times earnings. So they buy WTF (PE 16x) and their share price goes up (a la Bondcorp in the 80s), especially with some rationalising of costs etc.

I also agree that a tie up between FLT and WTF could make a lot of sense.

I think there has been some heavy selling due to option expiry this morning. Fun and games.