Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market made a remarkable recovery on a Friday to close very slight positive after being down as much as 1.5% in the morning. The recovery was made even more positive given the big line of TCL that needed be funded was adding to the selling pressure. Notable moves today were: (1) HSN (up 18%) had a good day after market update delivering double digit upgrades (2) GXL (up 11%) keeps running on further media stories that there is a bidder in play (3) CTD (up 9%) adding to the growth story with US acquisition…bit like FLT (4) BGA (up 8%) moved again on very positive upgrade by A2M building on the BAL updates (5) LYC (down 17%) and LNG (down 9%) seems to be the stocks that always gets smacked when commodity selling is in play (6) OZL, RSG and BDR (down 6-8%) were the most hit on falling copper and gold prices (7) SGH (down 7%) can’t seem to get out of the negative spiral with more questions being raised about debt covenants and potential law suits. (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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