I'm of the opinion that AMP have turned the corner, the team has driven results and I think the future is bright for AMP.
In mid term, say next 12 to 16months I see a return to above $8. The after market ann regarding 19.9% stake in China Life Pension is significant, at cost of $240M and break even in just 2years, the first external company to enter the annuities market in China, I expect to see a market acceptance tomorrow with resultant sp above $6 by mid next week.
Next year will be interesting time for the sector in general, the greed of the banks will become more exposed as the likes of tls, wes, wow and others seek competitive payment options. Interesting times
WES Price at posting:
$43.92 Sentiment: None Disclosure: Not Held
AMP Price at posting:
$5.74 Sentiment: Buy Disclosure: Held
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