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Suncorp Group (SUN) $10.65

Queensland based banking / insurer SUN has now corrected over 20% from its August high while over the same period QBE Insurance (QBE) which we hold has fallen less than 9% as it simply consolidates gains. At this stage we still like QBE but when the banks come back into favour SUN is likely to offer better sector exposure – importantly we feel banks are rapidly approaching solid valuation levels.

MM will be tempted to switch from QBE to SUN if the later continues to underperform
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Suncorp Group (SUN)
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