The SP and the banks deeds are linked..positively correlated...the market sentiment on the banks management and its unconscionable actions in the OP affair, may be the driver of the SP on Monday
The SP chart is telling me that some real dirt is coming ANZs way...the chart is predictive of some real problems for ANZ in the future...its called reputational damage and loss of goodwill...and for a banking business this is very bad news...could even possibly downgrade the banks credit rating if it drags on for months and years
There is still information that has been injuncted by Ferriers...whether it will see the light of day, who knows...but if todays press articles are any indication, it cannot be good for ANZ SP market sentiment
The bank is in real strife now. They have allegedly offerred 62c according to some press reports, but this will not get them out of OP. They realise that they need to get out of OP asap...but 62c will not do it.
ANZ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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