Some context. Last trade of day in nz was 200,000 shares at 10.99. Above teh end of day catch up.
But Australia, in a day (Friday) traded 8m shares - a long way shy of 40m
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Well it did hit $14.62 about 3 months ago. :t_up:
REMINDER MSCI RE-BALANCE 30/11/2017 ...........54M FPH ADDED & 79M CEN SHARES REMOVED 1.4Billion DAY TURNOVER .........:t_up:
The S&P/NZX50 Index gained 0.6% on Thursday to close at a new record high of 8,187. The month ended with an MSCI index rebalance which saw very large volumes traded on the close. The largest volume was seen in Fisher & Paykel Healthcare which was an addition, gaining 0.4% to $13.10 on $702 million of shares traded. Another was Contact Energy which was a removal and declined 2.2% to $5.40 on $410 million of shares traded.
79m Contact = 11% of shares on issue
54m FPH = 9.4% shares on issue
40m ATM only 5.5%.
Nice deflection on Friday at the MA100 - and down we go again. Who knows, maybe it is still trying to fill this gap 930 to 950?
Fascinating games ..