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CNP - Centro Properties Group

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The highest Peacock has ever been is federal leader of the Liberal party in opposition. The person who wrote that article mustn't have been around at that time to made a mistake like that.
 
Over the last couple of weeks I've accumulated 15,000 shares in Centro at an avg of $1.04.
After the trading halt on Friday I've been sweating bullets (along with a few others so I see!!)
What's the general concensus on this one - is it likely to be good news?!
I know it will be mere speculation, but I'm curious what some people with a bit more experience think!

In this sort of situation are we likely to see an announcement today or will they drag it out until they're forced to resume trading tomorrow - for better or for worse.
 
OK, I admit I took a bit of this at "bargain" prices.

Don't like the look of it now but anything could still happen.
 
centro has something like 670 shopping centers in the US

whereas westfields only has 45 or so

very different strategies from their management

and with andrew scott being one of only a few people who understands the company's strategy you'd wonder what will happen to centro when he gets the boot
 
Well looking at Commsec now there are 93 people (790,430K of shares) wanting to buy Centro for $1.30.

Does that mean these people think that is a fair value based on their research?

Or perhaps they are lemmings?
 
"Well looking at Commsec now there are 93 people (790,430K of shares) wanting to buy Centro for $1.30.

Does that mean these people think that is a fair value based on their research?

Or perhaps they are lemmings?"

Power Etrade has the same. I don't quite understand why those numbers are there.

Everyone is predicting bad news but no one is saying what it is. As I posted earlier, wouldn't they use all the time they had to attempt a "Lazarus" in which case why would the news be bad. Just putting it out there.

 
Go Nuke said:
Well looking at Commsec now there are 93 people (790,430K of shares) wanting to buy Centro for $1.30.

Does that mean these people think that is a fair value based on their research?

Or perhaps they are lemmings?
Click to expand...

Guys
It doesn't matter - as soon as it comes out of trading halt (or stays in suspension because the have gone kaput), all of the orders will be flushed from the system - you should completely ignore it, because the buy/sell data is now useless......

Cheers
Reece
 
Alistair said:
Over the last couple of weeks I've accumulated 15,000 shares in Centro at an avg of $1.04.
After the trading halt on Friday I've been sweating bullets (along with a few others so I see!!)
.
Click to expand...
Why would you be sweating?

You took on a massive gamble, if anything you should laugh it off if you even thought about talking such a risk...
 
[Dow Jones] Centro Properties (CNP.AU), whose stock is in a trading halt pending an announcement, may sell stock through a rights offer to bolster its balance sheet, the Australian Financial Review reports. A review by Centro adviser Lazard Carnegie Wylie may lead to a rights offer because CNP's banks want an infusion of new capital as a condition of any refinancing of A$3.9 billion of debt maturing by Feb. 15. Unnamed sources told the AFR the share sale might face a number of challenges, such as finding a cornerstone investor and an underwriter to lend confidence to the process. CNP has fallen 85% to 86 cents since Dec. 17 when it told the market about its situation, while Centro Retail (CER.AU), a property trust managed by CNP, has dropped 59% to 59 cents. CNP may update the market as early as today, AFR says, without saying where it got the information.
 
Aren't the orders only flushed when there is a suspension. CNP is only in a trading halt at this stage. If the trading halt is lifted then the orders will be filled. Check this out for yourself.
 
Punters often position themselves at the head of the que pending an ann. Before the halt is lifted you get 10-15 mins to decipher the ann, if it is good you are in front of the mob, if it is bad you pull the order.... standard dark-side trading.....
Cheers
...........Kauri
 
That assumes you know about the announcement when it is made and not a minute after trading has recommenced. Unless you have announcement alerts which are reliable you can get caught. Some brokers are sometimes hours late in posting announcements. The window is minutes and it can happen in a coffee break.
 

All too true.... but if you treat your trading as a business you have the tools and the.... etc... have known a few people who make their living from just that style of trading.... watch the anns, particularly the small miners who go off for 15 mins on an assay/drill result type ann. check out the depth during the halt.. interesting stuff..
Cheers
..........Kauri
 
nioka said:
Aren't the orders only flushed when there is a suspension. CNP is only in a trading halt at this stage. If the trading halt is lifted then the orders will be filled. Check this out for yourself.
Click to expand...

Yep, actually you are right Nioka....... my apologies here....

However, as Kauri says, probably not too reliable as there will be a rapid reshuffle in the pre open......

Cheers
Reece
 
On the stock quote that I am looking at it says the majority of buyers are offering between 0.865 to 1.00 and sellers 0.38 to 0.58. I'm not sure I exactly understand why this would be. As my name suggests, I am fairly fresh to all of this. Can anyone explain why the above may be??
 
What the hell? they put a trading halt over the weekend to announce new CEO?
hmm something very fishy going on with this stock.
 

That bid and offer ... sellers want to sell for 86 to 100 cents
buyer only want to buy 38 to 58 cents..in the buyer eyes this stock isnt worth above those price
 
I was expecting more news on the ASX then just a new CEO. I was thinking it would annouce its plans for meeting the deadline in Feb
 
Fed23 said:
I was expecting more news on the ASX then just a new CEO. I was thinking it would annouce its plans for meeting the deadline in Feb
Click to expand...

What do you mean?

There are two announcements - one announcing Glenn Rufrano as the new CEO and one dealing with potential default of US noteholders, forex hedging and further earnings volatility, sale of CAWF/CAF and disclosure of debt in the stat accounts.

A few extra bombshells in there. Have another look.
 
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