Market ends week up
Published in the Adelaide Advertiser, September 2009 by Karina Barrymore and Alison Bell
Retail investors plunged back into the share market this week, helping boost share prices by $23.5 billion.
Despite a half a per cent dip yesterday, the market remained strong. Since the March trough share prices have risen more than 45 per cent.
However, uncertainty lingers, showing up in trading volumes, which remain low.
Macquarie Private Wealth associate director Lucinda Chan said the market took a breather yesterday.
"We've had two extraordinary performing days in this market, so it is probably not unexpected," she said.
Telstra held up well, she noted,with the telco finishing up lc at $3.25, the same level as just before the government announced plans on Tuesday to split its retail and wholesale arms.
Professional and institutional investors still appear wary of buying at large volumes.
"The big players, like the institutions, aren't really in the market, it's more the retail investor not wanting to miss out on the bullish run," Wealth Within's Dale Gillham said.
Wise-owl analyst Josh Terlich expects listed property trusts to finally show some comeback.
"The realisation is hitting that these companies will now survive," he said.
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