volatility to remain till sep , page-9

It's interesting to see how the SP has behaved of late,
compared with its earlier run up to the mid 0.80s.

In the wake of recent anns it's been somewhat like a glider,
finding thermals to take it to a higher level but inevitably settling for lower altitudes as the heat is removed.

Although I hope I'm wrong, I suspect that we won't actually take the next sustainable SP steps-up until:-

a) We have firm numbers from Sanofi Aventis AND
b) We have been producing for a sufficient period for margins to be apparent.

Until then I guess the spikes and dips will be there for those who know how to ride them.