Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market was positive with global sentiment after Greece delivered a potential deal with EU. The risk remains with the negotiations, but we remain of the view that the global politics, self-interest and the general in-ability to deal with long term structural issues will see Greece, EU and IMF deliver a miraculous predictable deal to last 3-6mth. There are a few US data points out tonight and that will set the tone with Greece negotiations for tomorrow. Banks lead the way for the third day in a row while Health Care and Telcos were big positive contributors for solid market performance. Tax loss selling and institutional investors reducing exposure before school holidays will muddy stock performances this week. Institutional investors have been covering their shorts and selling small cap winners for the past week and that has opened up real buying opportunities in some quality small cap stocks. (VIEW LINK)