Strong start (after late sell off yesterday) but SP floundered...

Strong start (after late sell off yesterday) but SP floundered and barely gained ground. Shorters have hammered the SP each time it goes up. Large vols indicate plenty action. Yet 1H slightly exceeded consensus expectations.

In general the ASX is overvalued and expensive but as ocker notes: "The share price is off about 50% vis-a-vis 12 mths ago, yet their results are pretty much on par with the pcp. Surely the outlook for SKE cannot be so bad as to justify the sp reduction?" I agree. Cheap esp below 1.50 and cum a 10.7% gross div yield.... JUST re the interim. More to follow in August.

If i can't get the CG i am aiming for I'll happily take the divs. Macro for MS remains poor. It's common knowledge. But SKE deeply embedded in its sectors and will be around a lot longer than most. ESP good to see the big saving re costs continues and exceeds the target set. Makes massive difference to bottomline.