tanking - which stock?, page-8

switching out of australia? 1459 [Dow Jones] S&P/ASX 200 down 13.9 points, or 0.3%, at 4942.8 on
futures-led selling after hitting record high of 4982.6. "It sounds like there
was a large futures sell order," says senior institutional trader. SFE 200
futures down 14 points, or 0.3%, at 4923, maintaining recent spread to physical.
"The Nikkei is still very strong, so there may be some regional switching using
futures." Nikkei 225 up 1.1%. Many major brokerages have recommended switching
out of Australia but some have revised up their price targets on resource
stocks, with UBS now targeting A$90 on Rio Tinto (RIO.AU) from A$75 previously.
(DWR)