 |
|
  |
2009-5-8 08:12:00 a.m. HKT, XFNA
DJ MARKET TALK: Manulife Downside Likely Limited Despite 1Q Loss
|
| |
| 0758 [Dow Jones] Manulife (0945.HK) likely to fall, tracking Toronto-traded shares' 2.5% drop to equivalent of HK$146.83, after reporting second consecutive quarterly loss, with 1Q net loss at C$1.068 billion. Still, downside likely limited as company proposing 1Q DPS of 26 Canadian cents, +8% on-year and on-quarter; plus, company says capital position near high end of historical range, it's concentrating on rebalancing product portfolio to diversify sources of income, risk positions. Also important support factor, current rally in global equity market starting early March bodes well for Manulife's 2Q results as insurers in general won't have to set aside reserves, which one of main factors hurting Manulife's 4Q08, 1Q09 bottom-lines. Stock jumped 10.5% to end at HK$157.40 yesterday.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=wU45iLxieWBydwdmTFSsAw%3D%3D. You can use this link on the day this article is published and the following day.
(Delayed by 1 hour)
-0-
Copyright (c) 2009 Dow Jones & Company, Inc. |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
