Skip to main content

Morning Bell 11 October

Jessica Amir
October 11, 2021

The Aussie share market is set to open lower, with the futures suggesting a fall of 0.1%.

What to watch today:

  • Oil stocks were some of the best performers in the US and the same may occur on the ASX. The oil price rose to US$80 a barrel for the first time since 2014, as oil demand rebounds and supply remains low. The oil price has gained 60% this year and the market expects tight supply to remain for 6 months.
  • The iron ore price rose 5.4% to US$123.30 in China. This helped BHP in New York rise over 1%. Expect iron ore stocks like BHP (ASX:BHP), Fortescue Metals (ASX:FMG), Rio Tinto (ASX:RIO) and Mineral Resources (ASX:MIN) to follow.
  • Travel, tourism and food and beverage stocks are on watch ahead of NSW reopening its economy. Keep your eye on Australia’s biggest pub owner Charter Hall (ASX:CLW), as well as travel stocks that will likely see increased bookings.
  • In economic news, employment data will be released on Thursday for September.
  • Companies going ex-dividend today include Qualitas Real Estate Income Fund (ASX:QRI). RECHARGE FPO (ASX:REC) is due to list today.

Trading Idea:

  • Bell Potter reiterated its BUY rating on Mineral Resources (ASX:MIN), however slashed its price targe to $54.25 (previously $61.85), accounting for the drop in iron ore prices.
  • Bullish charting signals have been seen in Vimy Resources (ASX:VMY), Westgold Resources (ASX:WGX) and Calix (ASX:CXL) according to Trading Central.

Morning Bell 1 June

Sophia Mavridis
June 1, 2023

Morning Bell 31 May

Grady Wulff
May 31, 2023

Morning Bell 30 May

Grady Wulff
May 30, 2023

Morning Bell 29 May

Grady Wulff
May 29, 2023

Weekly Wrap 26 May

Grady Wulff
May 26, 2023

Morning Bell 26 May

Sophia Mavridis
May 26, 2023

Morning Bell 25 May

Grady Wulff
May 25, 2023

Morning Bell 24 May

Grady Wulff
May 24, 2023

Morning Bell 23 May

Grady Wulff
May 23, 2023

Weekly Wrap 12 May

Grady Wulff
May 12, 2023

Morning Bell 12 May

Sophia Mavridis
May 12, 2023