Sunset Strip | Aussie market closed positive despite indifferent global sentiment post US Fed comments
Sunset Strip | Aussie market closed positive despite indifferent global sentiment post US Fed comments. Aussie market was slight positive 0.14% with turnover was just above $4.1b. Financial sector inquiry has left a lot more questions open than any guidance on solutions. This has spooked the market on SMSF, negative gearing, superannuation, capital gains tax and potential splitting of the retail operations of the banks. Apart from the fact that the government is not going to do anything about this report, these random thoughts from inquiries of no consequence are not helping the market sustain any positive momentum. Spot gold bounced from $1290 and if moves above $1300 again the bulls will be back. We still remain positive on spot gold in the next 6mths. Pick of the day...Southern Cross Media (SXL)...we see it trading from current $1.16 to over $1.40 in the next 12mths...12m shares were crossed today. (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...