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On the eve of the Australian Federal Budget being handed down tomorrow night – with a massive $4 billion injection into infrastructure expected – the Aussie share market futures suggest the market will get off to a slow start this week – the futures suggesting a dip of 0.1%.

What to watch:

• Iron ore surged over 3% taking the key steel ingredient off the charts to US$204. Morgan Stanley expects the iron ore price will rise to US$215 this year – and this will benefit Fortescue Metals Group (ASX:FMG).
• All eyes on Crown Resorts (ASX:CWN) following an increased takeover offer and a merger proposal.
• Pendal (ASX:PDL) reported half year results and entered a trading halt after announcing plans to buy a US investment company for $413 million.
• The a2Milk Company (ASX:A2M) shares are likely to come under further pressure today as it advised it won’t be meeting its guidance and that its earnings will be significantly lower.
• Economic news out – NAB business confidence for April.

Trading ideas:

• Bell Potter reiterated Regis Resources (ASX:RRL) as a BUY but reduced its price target to $4.08, implying 51% growth in a year.
• OceanaGold (ASX:OGC), Hazer (ASX:HZR) and Euro Manganese (ASX:EMN) are all giving off bullish charting signals according to Trading Central.