Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market delivered a positive day inline with global sentiment despite Grexit and Chiquities hanging over the markets. Greece has delivered a deal and we should hear tonight if that is anything to be positive about. EU then has to decide if this ends in a Greek tragedy by Sunday. There is a very small chance of a deal being struck despite pressure from US and IMF while the odds for Grexit are now sitting at 50/50. Germany, France, EU and IMF have already run the numbers over plan B and will move sooner than later if Grexit is in play. Chiquities had second positive day while some 70% of the stocks are in suspension and all major shareholders and directors are banned from selling shares for 6 mths. The real test for Chiquities will be what the market does when the restrictions are removed, but that may be a weeks or months away. The next few days are going to get rocky and there may be some panic selling, but we see this as another buying opportunity. (VIEW LINK)

Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

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