STAY calm folks.Im sure Coopec is correct re M&G during normal...

STAY calm folks.

Im sure Coopec is correct re M&G during normal trade over the last 2 days. The crazy action in the closing auction is clearly nothing to do with insider trading or even the company itself. Was a similar story across many stocks and is obviously related to the change in S&P indices which happens as of Monday open. So for stocks like TAP which are being removed from one of the more significant indices it was the last chance for index funds to exit (they have no choice). The same thing just happened to the likes of SIV and RFE. There was also massive action in SLR (although bizarrely it went up on massive volume) despite being kicked from the ASX200. Thats just thefewi was watching. The big jump in the indices at the end suggests it was widespread (obviously the index funds need to buy into a heap of stocks being added as well).

Anyway, it will recover on Monday at least until M&G decide to sell again. Clearly the price is a false one influenced by these two massive factors unrelated to the fundamentals. It could cause trouble for a raising as it turns out and potential buyers realising that no doubt exacerbated the fall but no need for conspiracy theories yet.