Sunset Strip > Trading Day Wrap From Blue Ocean 20170803

Mathan Somasundaram

Local market ran out of puff again on weaker commodities and directionless global markets. Local trade balance was another miss and the currency took a step back. The best performing sectors were Utilities, IT and Industrials while the worst performers were Miners, Telecom Services and Energy. On the sector/stock front….(1) SDF jumped on comments from SUN result about rising premiums (2) ASL moved higher on better outlook for mining services and gold sector (3) LYC turned negative after recent run…but rare earth in fashion (4) SHV saw more pain after another weak result update (5) API was taken to the pharmacy after a weak result (6) MTR ran into selling pressure after a broker scare story about the currency…same analyst that saw the end of MTR due to AirBnB (7) SUN ran into selling pressure after a slight miss as investors were expecting more capital management…i.e. more div.

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Mathan Somasundaram

2017 - Now > Blue Ocean (AUS) > Market Portfolio Strategist 2012 - 2017> Baillieu Holst (AUS) > Head of Strategy, Quant and Data Analytics 2009 - 2012 > Bell Potter / Southern Cross (AUS) > Head of Quant and Data Analytics 2007 - 2009 > LIM...

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