Suncorp perhaps? or QBE....
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CFD's are pretty useful for shorting trades. TWR is available under CMC's limited cover of NZ shares for long or short positions.
Another down day today
Doesn't seem to be any signs of the down trend ending soon
Any particular reason you want to share with us for this line of thought?
Chart looks very bearish to me ... and while the RSI is in deeply oversold territory ... just look at what happened the last couple of times with the share price when it was in this territory ... (hint: it plateaued and had than another steep drop).
The downtrend remains intact.
I have been watching tower for a while now... the thing that puts me off is the dividend policy is up for review, which to me means no dividends for a while. I think there is a lot more pain to come on this one.
I tend to agree - no dividends for maybe 18 months as they retain cash to work through expensive Christchurch claims tail end. The situation with Peak Re is the greater concern as it could be a $50m hole in the accounts which would need to be plugged by a rights issue (which would be ironic given the shares the company was buying back at $2 a pop) to ensure they meet capital adequacy etc. A rights issue would likely be something ugly like a 1 for 2 at 60-70 cents.
The parent can draw down debt to cover it and they are debt free as a group which is very good. Just overall a lot of uncertainty and definitely a value play as the upside is still $1.80-$2.20 for a "clean" Tower making around $25m npat annually and paying out most of it in dividends or renewed share buybacks. The Peak Re situation needs to be sorted asap.