Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market started positive and remained there with unemployment holding steady. The two main thematics that remain key about employment data are (1) it is going to get worse (2) it is going to remain above 6% for a lot longer than expected. The negative global lead from US seems to not sway the market with Banks holding strong since the WBC move yesterday. The market seems to be turning positive on the banks and hence the market, but we like to wait till next week to confirm the momentum has legs. Gold stocks continue their ride up with AQG, EVN, SBM and SAR hitting the top ten. DMP continues on the run up with French acquisition while the market is expecting more M&A. IAG was back in favour as the China expansion gets pulled in. AIO saw some pain as ACCC came out with negative initial view on the take-over bid by Brooks. Resources remain volatile and China update next week will give some direction. (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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