Market Wrap - Week Ending Friday 15th Feb 08

Another week in the zone.


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.

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.