----- Original Message -----
Sent: Saturday, July 08, 2000 2:48
PM
Subject: Re: [sharechat] If it weren't
for telecom...
Not sure how to do the calculation.......... but the following
may be of interest
. By a considerable distance (27% weight compared
with the second largest at 6.7%), Telecom has the largest weighting in the
NZSE40 index. Its return trend can be expected to strongly influence the
return track of the NZSE40.
Telecom's price has fluctuated between $7.30
and 9.80 over the last three years (now $7.50) while consistently paying an
annual dividend yield of about 5-6% (100% imputed). Volatility in Telecom's
price appears to be driven primarily by the:
· perception
of the level of future industry competition and regulation;
· costs
of its Australian expansion plans;
· market
reaction to senior management transition in 1999 and consequent results;
· flattening
profit growth profile; and
· relativity
with other telcos globally.
At 16:40 07-07-00 +0200, you
wrote:
If it weren't for telecom's languishing share
price, just how high would the
NZSE have risen in the last couple of
months? WHS and FEG in particular have
soared, and the rest of the top 10
seem to have done well in recovering from
their year lows as well. Can
someone calculate where the NZSE40 would be if
TEL was at 800 or
900?
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