Sunset Strip | Aussie market went negative despite positive global lead due to falling Iron Ore and currency

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market went negative despite positive global lead due to falling Iron Ore and currency. Local employment data showed unemployment stayed at 6.2% despite new jobs...not looking good for 2015...going above 6.5%. Given the low global and local growth, we continue to favour the yield thematic. Short term profit taking is suggested. Positive big moves were driven by retail store rollout view for SUL and DSH, M&A angle for TEN and AMM and result update for NWS. Negative big moves were mainly from resource stocks with falling commodity prices and DNA on potential tax hike in Vietnam. VOC also took a hit with TPM going substantial on its M&A target AMM.. Trading idea of the day: (CRZ). Thursday's Thematic TMT Pick: Telstra (TLS). Chart of the day: Henderson Group (HGG). (VIEW LINK)

Mathan Somasundaram
Founder & CEO
Deep Data Analytics

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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