I think your all too bearish. The market has been well informed on this one, especially the shorters, for some time and it has been well sold off already. Divi soon will reduce cost price even further.
40% drop in headline profit looks scary but the underlying buisness is running well outside of investment losses and non-repeat of one-off 09 profits. Elders repreents about AUD$130M loss (mark-to-market) of the AUD$250M drop in investment profits.... over half. The market new this was coming and they also knew with lower interest rates the return on investments would be suffering. Reckon the shorters will buy back and long term funds will come in to buy the fact as these one off losses are not repeated next year.
goodluck
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Last
$16.32 |
Change
-0.170(1.03%) |
Mkt cap ! $24.51B | |||
| Open | High | Low | Value | Volume |
| $16.51 | $16.59 | $16.21 | $55.31M | 3.380M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 44252 | $16.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.36 | 601 | 1 |
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| Last trade - 16.10pm 06/08/2024 (20 minute delay) ? |
| QBE (ASX) Chart |