Market Wrap - Week Ending Friday 15th Feb 08

Another week in the zone.

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This week we had more big name companies report; being CBA, AMP and RIO.

CBA disappointed, and as such their share price fell some 6%.  The stock is currently paying a 5.65% fully franked dividend grossed up for the franking credits this is an 8% return. At this yield this is a great long term buy.
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AMP’s report was not received well either, with the stock falling initially only to regain the losses the same day. It did fall back last Friday to the $7.58 level in line with the market falling. At its current price the company is paying 6% with 85% franking a grossed up yield of 8.1%. Again another good long term buy at these prices.RIO’s report was well received with the price moving up around 12% for the week. The BHP bid for the stock has also provided a support level for this stocks share price.

Until next week.