few sellers - good, page-15

From the Market Update 1:08 pm - good to see some positive sentiment!:

"Property trusts are under pressure, with Westfield down 2.7% at A$9.87 after Stockland moved to raise up to A$1.98 billion at A$2.70 a security, a 19% discount to its last traded price.

But Morgan said Stockland's share issue may mark a significant bottom for property trusts because all the major property trusts issues will have been completed.

He said he was unsure if the index would recover this afternoon, although he noted a recent pattern of morning weakness, followed by afternoon strength.

Medium-to-longer term prospects were good, he added.

"What will happen is that with the recapitalization and extra liquidity in the U.S., once that process is complete, the money will flow through the system like life blood. There is heaps of value right across the board."
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