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Sunny Trade...

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Took a punt on the SUN yesterday, it turns out alright. According to their ann. they are rebranding themselves as the new Sun Uni Live or something like that, a shift back to their insurance biz. This probably explains the bounce and if the short term channel is telling anything, is this - some invisible hand doesn't want Sun to move too high, say beyond 7.00 per pop. With today's announcement, it probably makes sense to suspect the sale of their banking arm should be quite near...

Insurance seems to be the new growth sector judging by NAB's gobbling up the Aviva Aussie operation. With rising premium (last checked seems to indicate >10%), Sun without the bank may avoid burning itself out, and may turn out to be not so bad moving forward. But first, there's a need to find out how much they are going to flog their banking division - a good decent price will be a bonus.
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