UPDATE 1-Bendigo: not aware of reasons for share price rise

Tue Mar 11, 2008 10:56pm GMT
 
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SYDNEY, March 12 (Reuters) - Bendigo Bank Ltd (BEN.AX: Quote, Profile, Research), an Australian regional lender, said on Wednesday it was not aware of any reasons for a spike in its share price the previous day.

Bendigo released the statement in response to a query from the stock market operator after its shares jumped 10.4 percent on Tuesday, while the broader market fell 0.9 percent.

Bendigo reaffirmed its earnings per share growth forecast of 12 percent for the current fiscal year.

A sharp recent fall in many bank shares has triggered talk of potential takeovers in the sector, reflected in a 6.2 percent rise in Suncorp-Metway Ltd (SUN.AX: Quote, Profile, Research) shares the previous day.

Bendigo Bank last year acquired rival lender Adelaide Bank Ltd in a A$1.6 billon deal. ($1=A$1.08) (Reporting by Denny Thomas; editing by Jonathan Standing)

 

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