Sunset Strip > Trading Day Wrap From Blue Ocean 20170803
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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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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