It's a very cautious start to the day after a modestly weak lead from Wall Street. The action is fairly typical though for the end of a quarter as uncertainty about the presence or absence of window dressing leads people to sit on their hands.
I haven't done any trading this morning and my positions have barely moved. It's 11.15 now and the market is down 2 points.
Lynas have announced the details of their fund raising. A one for one issue at 45 cents which would give an adjusted price of 67.5 as the shares were trading at 90 - ie split the difference between the two prices. It's not as simple as that though because there's an additional placement so I'll see the official adjusted price when it re-opens tomorrow.
2.06 This has been the quietest day for a few weeks. No new trades and precious little movement with the market still down 2 points. Vba is doing quite well, up 2 at 44.5.
3.32 Just to shake things up, the market has moved out of a tight trading range, now down 14 points.
4.11 The quarter has ended with the market down 10 points on a quiet day. Now that brokers and institutions are watched closely for dodgy window dressing at the end of quarters, it's possible that it's now the least likely of days in the calendar for anything slightly interesting to happen.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment