Sunset Strip | Aussie Afternoon Institutional Market Wrap
Aussie market started negative on global sentiment and falling commodities before making a short lived recovery on the back of banks, BHP and STO. Bargain hunters and short covering saw Energy stocks and Miners bounce, but we don’t see that lasting too long. Banks bounced on better than expected decline in loan demand but the market struggled to sustain it. Resources were under the pump and Energy was leading the pack down. The best performers were all bargain hunting and short covering in beaten up underperformers like CAJ, DSH, SGH, MSB and ARI. SPL led the underperformer as it came back to the market after cap raising and ran out of fans. The market is going to remain volatile till the US Fed move is out of the way….that’s next Thursday 17th morning Sydney time. Market recovery in the next quarter will be driven by four main trends….yield, currency, cost cutting and M&A. (VIEW LINK)
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...