Business Services Industry

Blue chips dominate demand.(trends of stock market)(Brief Article)

Australasian Business Intelligence, March, 2005 by Hall, James

Mar 16, 2005 (The Australian Financial Review - ABIX via COMTEX)

Investors in Australian shares are concentrating on blue-chip stocks. On 16 March 2005, the Australian sharemarket closed at a record high. Stocks which reached new highs included blue-chips such as Woolworths, Suncorp-Metway and UniTAB. An analyst with ABN Amro notes that investors are selling smaller stocks and putting money into big, liquid stocks such as Telstra. The trend has accelerated with the booming share prices of resources stocks such as BHP Billiton, Rio Tinto and Woodside Petroleum. Another analyst believes that the "outperformance" from blue-chips will accelerate. Analysts are divided about whether the bull run on the share market can continue in the medium to long-term.

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