Amazing how the wind changes. Certainly an overkill today with all oilers. Mind you, the announcements released today by EPE were not market sensitive.
It seems market is screaming panic at the moment in regards to latest news articles..
Markets wait on crucial AGMs - By Duncan Hughes October 25, 2004..
Investors are bracing for a defining week on the Australian sharemarket as some of its biggest corporate names and leading personalities call for decisions, or make announcements, that could change the pace of the market.
Recent record highs could be in the balance as corporate chiefs in banking, breweries, media and telecommunications deliver their outlook on the sustainability of growth for their sectors and the economy.
Adding to the nervousness will be the continuing pressure of record high oil prices and the final days of campaigning in the US for tomorrow week's presidential election - the same day the Reserve Bank meets to consider interest rates for the first time since the federal election.
"The market could be at a crossroads," said Martin North, general manager, strategic consulting, at financial services consultancy Fujitsu. "This could potentially be traumatic and very important as there is a lot hanging on the next few days."
News Corp executive chairman Rupert Murdoch will be in Adelaide tomorrow at a shareholder meeting, at which he is expected to announce he has the numbers to relocate the global media conglomerate to the US state of Delaware.
