1039 [Dow Jones] Brambles (BXB.AU) down 7.0% at A$5.98, threatening last week's low of A$5.90 low (lowest since dual listing was unwound. Brambles down 15% since November trading update, so market priced in some deterioration reflected in 1H results. But there's no sign of bottom in price charts or company statements. Brambles noted "further sharp deterioration in trading conditions" since November update, saying "challenging and volatile trading environment is expected to continue for some time and this makes it difficult to provide outlook guidance with confidence." There may be some relief that Brambles hasn't (yet) announced share issuance. But investors are likely to consider selling as little improvement is in store before financial year end. "It looks to be like (there's) further earnings risk through this year," says senior trader at major broker. (DWR)
BXB Price at posting:
$5.86 Sentiment: Sell Disclosure: Held
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