This result is not near as bad as what was predicted in AFR last week after the AMP downgrade and IAG's result. The market seem to think so as well - SUN just it $12.00
Suncorp-Metway loss on investment income for year 13:27, Monday, 8 July 2002
Sydney - Monday - July 8: (RWE) - Suncorp-Metway Ltd today said it would record a marginal loss on investment income on general insurance shareholder funds for the full year to June. The bankassurance group expected investment returns on general insurance shareholders funds for the June half-year to be marginally positive but this would not be enough to offset a $7 million loss in the December half, attributed mainly to poor sharemarket performance. The company said strong active investment management and positive returns on other asset classes (property and cash) in the June half had allowed it to overcome equity returns that remained below long-term averages. Suncorp-Metway rose 17c to $11.88.
SUN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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