Billabong sunk

Takeover talks fail and Billabong looks instead to debt financing after coming out of its trading halt today. The BBG share price lost another 50% of its value during the trade. 

The Billabong share price has now fallen from above $14.00 in 2008 to just 23 cents.

The XJO ground out small gains of 0.25% after the interest rate announcement.

Source: ASX


So, Australia's all important GDP growth will be reported tomorrow.

It's an absolute crapshoot trying to predict GDP given that it combines transactions across household consumption, dwelling investment, business investment...and so on...but, hey, we're looking for 0.8% q/q to give us 2.7% y/y growth.

Not great, but not too bad either. 

Let's see tomorrow!

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