I have seen your previous posts mate. If you ask me it was a 50/50. Wasn't a tough decision. Choose that BREXIT will either happen or not.
If you thought BREXIT will happen it was obvious that shares globally would take a hit.
If you thought BREXIT wouldn't happen, then it was obvious that shares would rise.
Congratulations on guessing the right option of the two. 50% Not bad odds.
Quite simply, the fundamentals of the company have not changed. It's demand locally and in China has and won't change.
Our biggest market is China. Europe including UK is a very minor part of it's global economy. In fact one of UKIP/Farage's main arguments for BREXIT was to concentrate on global trade and not just European trade; in fact he specifically mentions forging new and great ties with CHINA and other commonwealth countries (which ANZ is part of).
What does this mean? This means that now China's global economy will gain from BREXIT. Which will in turn boost Australia's economy.
So much positives, but why the fall in SP you ask? Short term uncertainty has a thing or two with traders and investors. Give it a week or so and we'll see BAL back at late $10 (WITHOUT announcement). At this stage I'm not willing to comment a projected SP with an announcement like a profit upgrade being released (obviously in excess of $12).
BAL Price at posting:
$10.28 Sentiment: Buy Disclosure: Held
