Just released.
DJ MARKET TALK: Credit Crunch Hits New Level; Shares Hammered
0117 GMT [Dow Jones] Credit crunch hit new level overnight, with Carlyle's
Mortgage Bond fund and Thornburg defaulting on margin calls, UBS conducting fire sale of
A$24 billion MBOs, U.S. mortgage foreclosures at all time high, 10 year bond/30 year
mortgage bond spread blowing out to 223 points, Citi saying it will cut mortgage backed
assets by US$45 billion and cut lending by 50%, plus NAB (NAB.AU) getting cut to sell by
Citi due to likely writedowns on Allco (AFG.AU). "It's intensified the
spotlight on any company with serious gearing or a need for funds," says trader,
highlighting pressure on Allco (AFG.AU), ABC Learning (ABS.AU), Asciano (AIO.AU), Primary
Healthcare (PRY.AU), Suncorp (SUN.AU), St George (SGB.AU), Challenger (CGF.AU). "All
these guys need refunding, so it makes that harder." (DWR)
Contact us in Sydney. 61 2 8235 2950;
[email protected]
(END) Dow Jones Newswires
March 06, 2008 20:17 ET (01:17 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc.
Friday 07 March 2008 12:17:20:310 AEST
credit crunch hits new level shares hammered
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$1.41 |
Change
-0.015(1.05%) |
Mkt cap ! $381.7M | |||
| Open | High | Low | Value | Volume |
| $1.43 | $1.43 | $1.41 | $343.4K | 242.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 18682 | $1.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.42 | 609 | 1 |
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