Wednesday, December 5, 2012

QBE Smacked.

The ASX 200 was firmer today at 4520.40, up 16.8 points.

QBE was smacked 4.72% or $0.50 to $10.10 on no news.  The share price hit a low of $10.02 and was lucky not to have dropped below $10 and had the decline exaggerated further by stop losses.

Ten Network Holdings (TEN) went into trading halt before the market opened.  The company will be completing a capital raising.  The Financial Review reported today that the capital raising could be deeply discounted, possibly at $0.20 per share.