Monday, June 30, 2008


Red News Readers,

From Crikey today, 30.6.08.

Not a good time to sell electricity assets:

"Gloom in June. Unless there is a powerful recovery tonight, Wall Street is about to record its
worst June since 1930. The Dow Jones Average closed on May 31 at 12,638.2 and last Friday at 11346.5, a fall of just over 10 per cent. This is not the Great Crash all over again, although we may be seeing the Great Housing and Credit Crash. But gloom has returned to the markets and the brief optimism of March and April has evaporated. The March lows are likely to be breached, if not today then in early July. A bounce will follow, as it usually does, but the great risk now overhanging the market is of more credit write-offs and defaults. -- Alan Kohler, Business Spectator"

Jenny Haines