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 27 September

Jessica Amir
September 27, 2021

Weekly Wrap 24 September

Jessica Amir
September 24, 2021

Morning Bell 24 September

Sophia Mavridis
September 24, 2021

Morning Bell 23 September

Paulina Peters
September 23, 2021

Morning Bell 22 September

Jessica Amir
September 22, 2021

Morning Bell 21 September

Jessica Amir
September 21, 2021

Morning Bell 20 September

Jessica Amir
September 20, 2021

Weekly Wrap 17 September

Jessica Amir
September 17, 2021

Morning Bell 17 September

Paulina Peters
September 17, 2021

Morning Bel 16 September

Jessica Amir
September 16, 2021

Morning Bell 15 September

Jessica Amir
September 15, 2021

Morning Bell 14 September

Sophia Mavridis
September 14, 2021