Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market started negative on global sentiment with falling commodities and stayed there. Resources were under the pump and Energy was leading the pack down. WPL calling off merger plans with OSH could not have been on a worse day for OSH shareholders and may be that was part of the way the cookie crumbles. TLS and Transport stocks were the winners while bad boys like SGH, DSH and MSB were hammered again as investors hit the exit button. BNO came back on the market after raising capital in US for a trial at a discount and the local shareholders were not impressed. The market is going to remain volatile till the US Fed move is out of the way….that’s Thursday 17th morning Sydney time. Market will move back to the main three trends….yield, currency and M&A. Despite recent profit taking, it still looks like we will continue to Christmas rally similar to last year…we expect the third leg in the rally to start soon!!! (VIEW LINK)