banks - hmmm

  1. 3,694 Posts.
    Don't know whether this is significant, but it may mean a selldown in banks tomorrow if they've been hyped artificially.

    This from Egoli's lunch time wrap.

    "Futures nudge up volumes, market

    Australia’s sharemarket nudged slightly higher on Thursday amid heavy trading as significant futures-related orders flowed through the market ahead of the end of quarter. At 1238 AEST, the benchmark S&P/ASX200 was 4.0 higher at 3221.00 although a senior SHAW dealer commented that the market would have been lower if it weren’t for the heavily weighted banking stocks.

    “Volumes are up because of the end of quarter futures expiry, which saw a lot go through at the opening,” commented SHAW Stockbroking senior dealer Jamie Spiteri. “Most of the reason the market is better is the manner in which the banks are performing, but if you remove them from the equation the broader market is a bit lower.”

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