Sunset Strip | Aussie market had a solid melt up today following positive global lead
Sunset Strip | Aussie market had a solid melt up today following positive global lead. Aussie market was up 1.48% with turnover was just above $4.8b. As we have been saying since last Friday, market heavily favoured the Big Miners (i.e. BHP, RIO) and Big Retailers (i.e. WES, WOW) on a very bullish day. It is good to see the Big Miners recover with improving global outlook as it supports the overall balance of the market recovery for the next leg up above 5500. We expect the market to be positively surprised in the reporting season compared to the current Valley of Death outlook. We expect current cyclical low valuations, falling currency and M&A will help improve sentiment while sectors with high risk to earnings have already come to the market and declared their sins. NO SUNSET STRIP TILL TUESDAY 8th July!!! (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...