Sunset Strip | Aussie market squeezed out a small positive despite US holiday tonight and negative China sentiment
Sunset Strip | Aussie market squeezed out a small positive despite US holiday tonight and negative China sentiment. Big positive moves (1) DNA has been taking a beating...bounced 8% today on buy back (2) ORE popped 6% on Mining Award & First Primary Lithium Carbonate Production (3) TFS Oil Outperforms in New Acne and Psoriasis Research. Other notable positive movers are GXL after broker scare stories took it below $8, PRY/SHL getting relief after government co-payment being shelved and OFX moved up another 3% on good update but beware the 20m shares coming off escrow tomorrow. Big negative moves (1) BRU was down 27% after weekly drilling update (2) MYX was down 16% after US sales drop (3) VET keeps falling after Chairman resigns...down 15%...should start the management change to re-rate (4) TRS down 11%...broken model (5) NWH...mining service after a downgrade...down 9%. Trading idea of the day: BHP Billiton (BHP). Thursday's Thematic TMT Pick: Telstra (TLS). Chart of the day: iProperty (IPP). (VIEW LINK)
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