Sunset Strip (Afternoon Report) | Aussie market opened negative on the lack of global lead and remained weak with selling pressure on all fronts
Sunset Strip (Afternoon Report) | Aussie market opened negative on the lack of global lead and remained weak with selling pressure on all fronts. Aussie market was down 0.38% while turnover was just below $4.1b. Market is becoming very negative on Iron Ore and AUDUSD despite better China data yesterday and Iron Ore holding up overnight. If the negativity continues, we may have to get positive just to be different. We are beginning to see more strategist and economist coming to our view that unemployment will hit 6.5%, consumer sentiment recovery will be delayed and any chance of rate rise is now in the second half of 2015. Keep in mind that there are a large number of property, infrastructure and other stocks going ex-dividend on Thursday. BNO had a cracker day up 22% with Merck deal announcement while KMD dropped 12% on another retail downgrade. (VIEW LINK)
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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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