Sunset Strip | Aussie market moved up with global markets on ECB talk-fest despite falling Iron Ore and currency

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market moved up with global markets on ECB talk-fest despite falling Iron Ore and currency. There was a clear sense of a global buy portfolio running through the market in the last hour to give a good positive end for the week. We remain positive long term but see short term risks in financial sector inquiry and falling commodity prices. TEN keeps the positive move on M&A chatter while AAC popped on news that China FTA to favour beef. Negative big moves were mainly stock that were in the bad books in recent days like VET and UGL. VET took another big hit today with some fund manager deciding to send a signal to the board that they were not happy. Cap raising above $3 and now at $0.66...not happy Jane. After the recent TPM move into VOC/AMM merger deal, there was a switch trade today of selling AMM and buying VOC. Trading idea of the day: (CRZ). Friday's High Risk Pick: Bionomics (BNO) Chart of the day: Henderson Group (HGG). (VIEW LINK)

Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 30 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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