The ASX200 has been up 0.5% at 8,030 points in early afternoon trade. The Aussie market bounced back this morning after Wall Street chalked up modest gains to start the week. Most sectors are in the green with Financials up around 0.9%, followed by Utilities, up 0.7%, and IT 0.6%. The Industrials and Discretionary sectors have been trading flat. UBS has released a note stating banking stocks are preferred over mining stocks in view of falling commodities as banks are expected to hold their valuations. The big four banks have very high valuations, and their year to date rise shows no signs of a…
