The 2 ASX announcements today were not positive for CNP. CBA has reduced its holding from 60.6m (7.18%) to 49m (5.81%), suprising given they have held on for so long then sell at these prices, not a good sign. Also floods the market with more script. Sale of Gold Coast property also very disappointing given it was only a small shopping centre it sold at a 9.9% discount to book value. Remember Australian values should have been holding up better than US, so not a good result if larger Australian centres sell for similiar discounts. Unfortunately neither of these announcements strengthen CNP situation. Please do you own research & I am off for a weeks holiday & will only post infrequently. Regards Buffett
CNP Price at posting:
9.5¢ Sentiment: None Disclosure: Not Held
