UBS behind spike in ASX blue chips last week
23 Oct 2012
Last Thursday's mystery price spike of a number of blue-chip stocks on the Australian Securities Exchange has been attributed to UBS.
According data available today, UBS had a $200-million order revised down to $56 million just ahead of the opening of ASX 200, The Sydney Morning Herald said citing sources inside the investment banking and broking community.
Market data published three days following the initial share trades revealed the identities of firms behind transactions.
According to the newspaper, at 9.56 am on Thursday, six seconds before the trade began, a seller changed the price and volume order on stocks including ANZ Bank, Commonwealth Bank and AGL.
UBS confirmed that it was one of their client's orders but had no further to comment.
Last Thursday, stocks in more than eight blue-chip stocks - including ANZ Bank, Commonwealth Bank, Brambles, AGL, Bank of Queensland, Ansell and Aristocrat rose sharply soon after trading started at 10 am. ANZ, which was down to $25.79 on Wednesday, shot to $27.63 on the opening bell, before collapsing to $26.16.