Nice rally from iof today. Jumped from $0.61 on open to test $0.625. Made me wonder whether punters have forgotten that iof no longer does quarterly distributions having elected in December 2011 to only do half yearly distributions (this is the week in which iof would normally advise the 1st quarter distribution).
The report out today provided an update on the reconstruction (unloading of European and U.S.A assets and buying further quality Australian assets). The NTA after the buy back is now $0.79cpu. If it can break through the resistance at $0.625 there is no reason it can't go above $0.645 and close the gap between the share price and the nta. The chart looks like it is due for a bounce. As always dyor.