Sunset Strip > Trading Day Wrap From Blue Ocean 20170516

Mathan Somasundaram

Local market finished positive after a volatile day with positive global overnight sentiment with Oil bounce. The best performers were Industrials, Metals & Miners and Retail while Banks, Gold and Utilities were the worst performers. NAB and MQG traded ex div today….WBC goes ex div on Thursday. Oil market > The move by Saudi Arabia and Russia to extend cuts was expected…and shows that they are losing the battle against shale…more shale to come online and cap the upside.

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