Skip to main content

Latest stock market podcasts

Morning Bell 23 August

Jessica Amir
August 23, 2021

The Aussie share market will likely follow US stocks trading higher on Friday, with the futures suggesting a lift of 0.5%.

 

What to watch today:

  • Company earnings and announcements today:
    • Sonic Healthcare (ASX:SHL) reported its full year net profit grew 149% to $1.32 billion. This beat market expectations of $1.28 billion profit. SHL lifted its final dividend 8% to 55cps.
    • Charter Hall (ASX:CHC) reported its full year profit rose 38% to $477 million.
    • G8 Education (ASX:GEM) reported its first half net profit more than doubled to $25.1 million and revenue lifted 39%. G8 Education declared it won’t be paying a dividend.
    • Sims Metals Management (ASX:SGM) will launch a $150 million share buy-back.
    • IGO (ASX:IGO) announced its produced its first lithium hydroxide product through its 49% joint venture in Australia’s first lithium hydroxide project.
    • Ampol (ASX:ALD) lobbed a takeover offer on Z Energy, a New Zealand petrol station operator, for NZ$3.78 per share.
  • The oil price settled 2.2% lower, falling for the 7th session and losing about 10% in the week, as demand concerns linger given global COVID-19 cases trend higher.
  • The copper price, the proxy for economic growth, is now 11% lower from its July high. However, as indicated by MACD and RSI, copper has been oversold.
  • The iron ore price is slightly higher, up 0.1% to US$160.
  • In economic news, services and manufacturing data for August will be released today. And on Friday, the Fed Chairman will give a speech.

 

Trading Ideas:

  • While hard commodities continue to fall, soft commodities, such as poultry, are trading at record high territory. Therefore, Bell Potter has upgraded its BUY rating on Inghams (ASX:ING), with an increased price target from $4.25 to $4.55, implying 11% share price growth in a year. ING reported profit ahead of expectations.
  • Maggie Beer Holdings (ASX:MBH), Kangaroo Island Plantation Timbers (ASX:KPT) and Peel Mining (ASX:PEX) are all giving off bullish charting signals, according to Trading Central.

From the helm: Brickworks' Lindsay Partridge

Bell Direct
February 12, 2020

Morning Bell 11 February

Bell Direct
February 10, 2020

Morning Bell 10 February

Bell Direct
February 9, 2020

Weekly Wrap 7 February

Bell Direct
February 7, 2020

Morning Bell 7 February

Bell Direct
February 6, 2020

Morning Bell 6 February

Bell Direct
February 5, 2020

Morning Bell 5 February

Bell Direct
February 4, 2020

Reporting season: Temple & Webster results

Bell Direct
February 4, 2020

Morning Bell 4 February

Bell Direct
February 3, 2020

Morning Bell 3 February

Bell Direct
February 2, 2020

January Market Overview

Bell Direct
January 31, 2020