Chanticleer

Skittish market fears Greensill contagion

The spectacular gyrations in IAG’s share price on Tuesday underscore fears about contagion from Greensill’s collapse, even if it looks relatively quarantined.

Updated Mar 9, 2021 – 6.48pm, first published at 6.17pm

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Goldman Sachs global chief executive David Solomon will probably end up being right in his assessment that the collapse of supply chain finance group Greensill Capital is “a small micro problem” in the context of global financial markets.

But there’s going to be more than enough local drama to keep things interesting in the coming weeks. You only need to look at the incredible gyrations in the share price of insurance giant IAG on Tuesday for proof.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.