The market fell 5 percent last week so it should stabilize a bit, but tech stocks are still weak.
The market would have expected a placement at a bigger discount.
Shares are not doing too well across the board this morning.
We're seeing across the board buying after tame employment data out of the U.S., which is reducing pressure for interest rate hikes, and a good response to residential property sales over the weekend.
The market is basically quite quiet. There's some profit-taking after yesterday's surge but overall market sentiment has stabilized somewhat because recent U.S. data has been quite positive and that has allayed fears about an interest rate rise this month.
We're seeing some profit-taking of blue chips after Friday's gains but generally the market is very quiet ahead of the release of more U.S. economic data tonight and an expected interest rate hike tomorrow.
I expect the index to move sideways today as there's a bit of profit taking.
The market's doing pretty well. We've had some good figures out of the U.S. and futures were very strong at yesterday's close.
People are switching to utilities because there is a lot of uncertainty in the market about how deep the rate cut will be.
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