I think this might be the reason behind todays price action. Does any-one know if there is something to this or is this just a shake-down byMorgan Stanely who hope to pick up some shares on the cheap for there clients?
Morgan Stanley Sees Challenger on Shaky Ground -- Market Talk
Posted on 3 August 2016 9:40 | DOW JONES INSTITUTIONAL NEWS
2340 GMT [Dow Jones]--Morgan Stanley is tipping shares in fund manager Challenger (CGF.AU) to fall over the next two months, citing a recent rally that took them well above its A$8.00/share price target. It sees three implications for Challenger from banks repricing term deposits to increase their net stable funding ratio in the wake of Tuesday's move by the Reserve Bank of Australia to lower interest rates by a quarter percentage point to 1.50%. Morgan Stanley thinks shorter dated annuity sales will come under pressure, and these represent 80% of new volumes. Also it thinks the 80% rollover rate could fall and sees rising pressure on product margins for new business. CGF last traded at A$9.35. ([email protected])
(END) Dow Jones Newswires
August 02, 2016 19:40 ET (23:40 GMT)
Copyright © 2016, Dow Jones & Company, Inc.
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I think this might be the reason behind todays price action....
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Last
$6.89 |
Change
0.020(0.29%) |
Mkt cap ! $4.761B |
Open | High | Low | Value | Volume |
$6.95 | $6.99 | $6.88 | $7.286M | 1.052M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1818 | $6.89 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.90 | 13335 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 140 | 6.850 |
1 | 2923 | 6.840 |
1 | 440 | 6.820 |
2 | 8650 | 6.790 |
1 | 500 | 6.760 |
Price($) | Vol. | No. |
---|---|---|
6.900 | 13335 | 3 |
6.950 | 588 | 1 |
6.990 | 7096 | 3 |
7.000 | 12442 | 11 |
7.010 | 11000 | 2 |
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