Forum Archive Index - April 2000

["simon dallimore" <smndallimore@hotmail.com>]

As we prepare to batten down for the long weekend, INL at yesterday's close 
of $3.80 is an extremely attractive proposition at the moment. Much has been 
written about INL on Sharechat over the past few weeks and let us not forget 
that this was the stock that Telecom paid $4.30 for not so long ago.
Like many other non-tech stocks however, INL suffered the panic of the 
smaller investors this week which has seen its price drop....and allowed 
institutions to wade in and mop up over the past couple of days. At its 
current price of $3.80, it is my view that smaller investors will never have 
a better opportunity of buying in before it moves back up rapidly.
This is not a tech company but one of the major blue chips in New Zealand 
with strong fundamentals, excellent past earnings and share dividends, and 
extremely promising future growth prospects. Much of the INL stock is also 
now held by institutions which makes volatility in the share price less 
likely.
All-in-all, an excellent stock to have as an anchor in one's portfolio and 
as said before, at $3.80 will never be cheaper for investors.
Our cousins in Australia obviously shared the same sentiments about INL's 
parent company, News Corp in yesterday's trading as this morning's news 
brief from the Melbourne Age showed (reproduced below):
-------------------------------------------------------------
News leads as market claws back $11b
                                                                     By 
CAROLYN BATT
MARKETS REPORTER
Thursday 20 April 2000

The value of the Australian stockmarket increased by more than $11 billion 
yesterday,with a hefty portion of the gains attributable to Rupert Murdoch's 
News Corporation.

News Corp's ordinary shares surged 5.41 per cent to $19.202 after
reports that the media giant was casting a predatory eye over Cable
Wireless Hong Kong Telecom.

Together with the 5.5 per cent rise by News Corp's preferred scrip, the 
company accounted for about a third of the market's overall rise.

Merrill Lynch equity analyst Alistair Scarff said that the market was 
shifting its focus to fundamentals, and had sought out stronger and more 
visible earnings.

[Market Briefs
Melbourne Age]
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