MARKETS SPECTATOR: Bunkered down

As US investors sit on their hands, the local market is likely to shrug off uncertainty to make early gains on light volumes.

With Hurricane Sandy closing down US markets overnight, and again tomorrow night, there really is very little to help us preview Australian trade. Judging by the very low volumes that transacted in Europe, it looks like the local market may shrug off a bit of weakness caused by the heightened uncertainty.

European markets were all weaker with the French CAC 40 the worst, down 0.80 per cent. Elsewhere, the German DAX and London’s FTSE 100 fell 0.40 per cent and 0.20 per cent respectively.

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