Interesting that the doomsayers are back this weekend on HotCopper.
Some moron is even talking of administration over this weekend - puhlease.
Interest rate hedging announcement is supposed to be the final straw for Centro? Pfftt yeah right.
Int. rates in Aust going up 0.25% perhaps and going down at least that if not more in the USA. Would seem to be not much of an announcement.
The hedging issue could be more of a concern - USA/AUD expected to depreciate further - although keeping a reasonable amount of Centro's dollars in USD is not such a bad thing - no real reason why Centro must convert every dollar it has into AUD.
I expect to see Centro down come Monday as market sentiment will be ugly after the US close. I expect to see Centro drop to the $1.10-$1.20 range, $1.00 at worst.
As with everyone else on here I could be wrong, but I see nothing that's happened in the last 48 hours to change my mind about the fundamentals of Centro.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
