Some peripheral comment on your piece this morning on WMC. Capital have been selling down their 13 per cent -plus stake since June last year and most recently disclosed they had dropped below the 5 per cent disclosure threshold. Most of their stock would have been unloaded in high $4 range to low $7s. With WMC underwritten by BHP at $7.85 now they (Capital that is) must be starting a search for scapegoats.
CRIKEY: See Crikey’s BHP-Billiton/WMC coverage on the website here: http://www.crikey.com.au/articles/2005/03/008-0001-5627.html