Northern Hemisphere agriculture is having a bad year with drought. So long as our rains are OK in 2012 (so far so good) and no hail/storms/frosts/floods/fires to spoil the party this spring and summer will be good for our agri-business sector.
Luck has a lot to do with its success and they had a bad run in previous decade. Maybe its time for a change of luck in 2010 - 2020?
What we really want to see is downward movement in AUD to around 0.80 but I cant see it happening this year while ECB and USA FED have effectively 0% or 1% and RBA thinks its fine and dandy to be at 3.5%. It will still be a good growing year (hopefully) and particularly if ELD can show good improvement in underlying profit of its rural business in the October report then ELD should finish off the year nicely.
There may be a move in September-Dec 2012 with M&A on ELD if
1. Divestment of Futuris is announced.
2. Bumper crop season pans out
3. ELD rural business full year profit improves more than previous guidance in October report.
ELD is cheap and lack of announcements of change in substantial holding in last week or two shows that RHL is holding fire for now.
is a take over close?, page-4
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Last
$8.60 |
Change
-0.060(0.69%) |
Mkt cap ! $1.359B | |||
| Open | High | Low | Value | Volume |
| $8.67 | $8.67 | $8.51 | $3.500M | 408.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 998 | $8.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.60 | 2670 | 2 |
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| Last trade - 16.10pm 14/11/2024 (20 minute delay) ? |
| ELD (ASX) Chart |