Ann: Valad Property Group - Retail Entitlement Of, page-11

re: Ann: Valad Property Group - Retail Entitl... Mik. I agree. In fact I think that a bounce may occur in the DOW from Tuesday US(ie Wed Au), when various companies will report. I am less optimistic about the Dow's movement on Monday, due to certain comments of Greenspan re unemployment etc.

Anyway, any DOW increase(or decrease) will probably be factored into VPG, but I think there is little downside risk unless something becomes fundamentally unstuck with global markets.