Forum Archive Index - March 2000

Please note usage of the Forum is subject to the Terms & Conditions.

Messages by Date [	Next by Date	Previous by Date ]
Messages by Thread [	Next by Thread	Previous by Thread ]
Post to the Forum [	New message	Reply to this message ]

Printable version

[sharechat] FEG and FLB - Wall Street is short

From:	"Ben Dutton" <bendutton@sharechat.co.nz>
Date:	Mon, 27 Mar 2000 14:55:24 +1200

Interesting piece of news in the SMH this morning which may have helped
contribute to the fall in FEG and FLB today (down 5c and 8c respectively at
the moment).


"The Fletcher twins' American Depositary Receipts (ADRs) top the latest New
York Stock Exchange list for the largest percentage increase in "short"
sales.

Short sales are the sale of borrowed shares that the seller hopes can be
bought back at a lower price for replacement.

Hardly any were shorted a month ago. Now more than 1 million ADRs of each
Fletcher arm - the equivalent of 10 million shares - have been sold short.
No-one has any explanation apart from a belief that someone is betting on a
fall."

For the rest of the article, check out:

http://www.smh.com.au/news/0003/27/business/business04.html


Benjamin Dutton


----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
To remove yourself from this list, please us the form at
http://www.sharechat.co.nz/forum.html.

Messages by Date [	Next by Date:	RE: [sharechat] ITC - Exo-net expansion Wedde, John
	Previous by Date:	[sharechat] ITC - Exo-net expansion Osbert Sun ]
Messages by Thread [	Next by Thread:	[sharechat] ITC - Exo-net expansion Osbert Sun
	Previous by Thread:	[sharechat] Smart money has to be on AIRVB from here on frank fernandez ]
Post to the Forum [	New message	Reply to this message ]