ALB have had two major selling brokers, Argonaut Securities for 10.461m & Taylor Collinson for a net 3.6m. Looking at the Top 20 Argonaut selling probably has come from the number 2 shareholder HSBC Custody Nominees with 20.5m. or the third biggest shareholder ANZ nominees with 12.294m. If the selling has been from ANZ Noms it is close to finishing but HSBC would be capable of supplying plenty more if they are selling. Net buyers looks impressive; Comsec net 3.4m., Etrade 3.1m., UBS Warburg 2.7m.,AIX 1.1m.,Shaws 2.2m.,Shadforths 2.3m.,EL Baillieu 1.6m.,& Hartleys 1m., Whilst an impressive list of net buyers it will take some time to bed down this stock that has been dumped into the market. Happy to believe the 8 buying brokers will eventually be proved correct cf the 2 selling brokers. Patience is the key to ALB. Regards Buffett
ALB Price at posting:
14.5¢ Sentiment: None Disclosure: Held
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