Means that whatever happens in the NZX is irrelevant until the ASX opens on ATM.
Sad but true.
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I’d say if the plan was to re-open trading today then we would have already had the release. Monday morning now seems more likely.
Once ATM's numbers are known to them there is no reason to continue the T H get the pain over and done with for heavens sake, we all are big boys and girls.
Today is index rebalancing day too where ATM weightage in NZX Portfolio Index tracked by FNZ is going up by 1.59 % ....
Was so looking forward to that ...lol
https://www.nzherald.co.nz/business/...OYCPW7EHNQSLY/
Synlait saying they will reassess the impact. The word impact doesn't sound positive in my view..
The quotes in that article all talk about revised earnings guidance.. but maybe they can't say anything about contracts, acquisitions and takeovers until anything is released by a2 and we out of the halt. I guess we just have to wait and see..
I wonder what % of ATM's product is bought by the diagou ( whatever ) industry as opposed by regular shipping ( air and sea freight ) ?
All ATM big inclusions ETF and Funds taking a hit today expecting a big downgrade in SP ...like TNZ , NZG but KFL which has 11.4 % ATM is still going up .
It reveals what kind of investors flock to KFL even at 20 cents over NAV !!
I don't think it is a big deal. Trading as usual.
Very good post, well said. I suspect we may see 4 downgrades this year, this the second one shortly, another in late February with the half year result and a final one in May 2021 or early June as the scale of the problem becomes abundantly clear.
I will wait for this to be properly de-risked and a clear bottom to be firmly established and will have another look at the fundamentals when there's a clear break above the 100 day moving average, whenever that might be but I doubt its anytime soon.