Expensive defensives nearing 'inflection point'
Defensive stocks such as utilities and infrastructure have been pushed to extreme levels and are at risk of a "significant unravelling".
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Defensive stocks such as utilities and infrastructure have been pushed to extreme levels and are at risk of a "significant unravelling".
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Local shares are poised to open sharply higher, following advances in both Europe and in the US.
"I don't think at the moment you need to own any Australian bank if you're not pegged to the index."
While global uncertainty looms ahead, some equity analysts forecast a continued healthy appetite for equities.
A strong lead from Wall Street on Friday and a concrete election result sets up Australian shares to open higher.
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