Thursday, February 19, 2015


I see the pensioner from St Marys Bay has asked the Financial Markets Authority to investigate the 'spike' in Sky City shares traded last Friday.   He linked this with the Sunday announcement (two days later) that there would be no taxpayer money going to the convention centre project with the clear inference that there had been a premature leak of the decision.

What Peters forgot was that Sky City made their six month profit announcement on the Wednesday with net profit after tax of $61.1m for the six months to 31 December, down 8% on the same period last year.   Additionally, the NZX reported their initial review showed that the volume traded was not unusual following a first half announcement in a highly liquid, top 10, dual stock,   Further, that trading on the Friday was fragmented across a range of different brokers and clients, indicating a response to public information.

If Peters wants to spruik on about politicians and share trading then he need to look no further at the economic sabotage that he and his mates from the Greens and Labour indulged in at the time of the Mighty River Power float which cost the country several hundreds of millions of dollars in lost revenue.   That money will never be recovered thanks to the collective mouths of Winston First, the Greens and Labour.    Thanx Winston but no thanx.  


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