Again talking of asset sales and senior management changes.With this news hitting the media the price will explode.

Their aluminium business doesn't fit the portfolio and they will get rid this year. The move had been blocked up until now but stands a decent chance of getting clearance within weeks. This will help ease the debt situation considerably and should enhance their return to profitability in the first half of 04. Steel prices also up 20% in the first few months (more for the specialised steels in their portfolio) and forex on raw materials and Europe sales are all going in the right direction. Should hit 50 pence and keep climbing. Varin is one shrewd cookie.

reorganization needs to be pushed more.
alu-business maybe no core, but still earning.....

I have a proposal to Varin!: Split up Corus! or just shut down al UK mills. We make more profit with Hoogovens alon.

A major Chicago fund (14.2%) and the Russian (13.6% with more buys today at 36.75) are both looking to buy big in coming weeks and I suspect the temporary weakness in the price will see them jump in at anywhere around 37.5. This can only drive the price back up to a resistance of around 42.0. The stock looks cheapened by the current spat between Usmanov and the Board but in reality this a temparary storm in a teacup. The FY results will be even better than current projections if the April YTD slab and hot rolled coil volumes and ++ pricing variances are anything to go by. Evan at analyst estimates the value should be considerably higher and will inevitably readjust.

Events will unfold when both largest stakeholders get to a joint holding of 30% -then Usmanov may move to acquire the Chicago fund outright and either declare a launched take-over (value could be in the 70-80 pence range) or force the position on board representation, that is also good news to remove the present distraction and uncertainty and should herald a return close to the 50p target.

This company has a sound strategy and leadership now in place, it is back in the black and further improving its earnings potential via restucturing and better portfolio decisions. The stock is massively undervalued at anything less than 47-49 pence even if you throw in an adjustment for the current rift with Usmanov. I personally hope Varin will succeed in getting the company fairly valued and in making progress organically but if he fails a take-over will be inevitable at this price and that will be a share price bonanza on any current valuation formulaes. It looks win-win to me. Any other views?

There has been talk about the Chinese authorities wanting to cool China's growth, and I suspect that has knocked the price today.

Volume went crazy when price touched 36 pence...this must be the floor. We'll hopefully see strong upward progress now. Several large private buys (500,000 +) in 36-36.5p range today. Is our Russian friend filling his boots?

Shares have taken an absolute pasting today on the back of weak UK manufacturing data for 1st quarter...price seems out of proportion given positive company news on volume and price hikes. Demand in China still set to outstrip gloabal supply and potential iron ore shortages now seem less of an issue given a new fixed price supply deal with Brazil.

Shares lost over 5% in today's trading on very low volumes. Trade seems to be taking a very myopic short term view on these. Now look very cheap so I'm holding for the rebound. Any other views?

interest rate rises usually hit corus,esp.UK division, bad even by such a small amount.By the end of next week they should have recovered.

joehargan1,

A major Chicago fund (14.2%)??? Do you meen Brandes Investment Partners?
If not, who?

Yes, exactly roell33...didn't mean to be mysterious but couldn't remember the investment house. Starting to hurt is a bit of an understatement oneill...to think I nearly sold off the lot at 46p. Will be wide open to a takeover if it hangs around at this level - look at the NAV alone.

Looking at the level 2 order book and the trading in the last week. It still looks as though the sellers are still very strong. The buyers still do not have control.

Buyers back in this am 4.2m / .5m

Patients!!
On the mainland, Hoogovens makes more profit then the losses of BS on the Island. This is whispered on several dutch chat rooms. Comes from Hoogovens sources. Just wait for fundamental news from Corus.

It still looks as though the sellers are in quite strong this am. It will be interesting to see when they decide to step aside.

Ok who bagged 3.7m + 1.3m????

Also another 2 large buy trades. whats the crack? anyone....

Looking at the order book at the of the sessions. It seems that the sellers still have the upper hand in this stock.

More pain today? Again looking at the order book for Corus, it seems as though the sellers are still here in big numbers. They seem to be taking a position very early.
When will this share turn

Corus much more tham most - this stock has now lost 40% in the space of 4 weeks...just when Corus returned to operating profit and issued a trading announcment ahead of market expectations. I am beyond pain.