It is surprising to see the SP up on a down day. The market seems to like the result at least for the time being but I don't expect it to hold above $8 for long. No doubt the shorters will return in due course and assist the retreat along with the current general market sentiment.
IMO the SP will not improve significantly until the performance of the Bank division improves and the write offs can be stemmed.
ANZ
News: Suncorp Metway doubles FY profit , page-2
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