Local market opened positive on better commodities and currency before pulling back to finish flat. Commodities drove market higher while banks gave up initial optimism. The best performing sectors were Staples, Utilities and Miners while the worst performers were Gold, IT and Property Trust. On the stocks….(1) MTS > sales up, profit down, dividends back, competition rising and CEO leaving…drove short covering but still looks more like a value trap than value pick (2) LNK > big raising for big UK acquisition when recent track record with Brexit has been shocking (3) CKF > more food retailers IPO and M&A keeps the action in the sector.
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