Qantas shares trade heavily

Monday, 30 Mar, 2007 0

With the APA Qantas deal looking increasingly unlikely to go through in its current form, with the APA consortium considering lowering the 90% acceptance condition, Qantas shares traded heavily on Thursday.

One broker is reported to have traded an order of 58 million shares at $5.19 and total orders for the day on Qantas were around 80 million.

Analysts say that the trading is linked to hedge funds which hold

about 40$ of Qantas shares, with the surge in volume also coming after investment banks have increased their stake in the airline over the last few days, with Credit Suisse now holding 5.4% and Deutsche Bank 8.4%

Report by The Mole



 

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John Alwyn-Jones



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