Skip to main content

Morning Bell 12 March

Jessica Amir
March 12, 2021

The futures are suggesting the market will end the week on a positive note, up 0.5%, with the AUD continuing to rise against the greenback.

US stocks climbed to record highs on Thursday as the comeback in tech shares resumed, while the signing of the $1.9 billion-dollar COVID-19 stimulus deal gave sentiment a further boost.

In other news, Johnson & Johnson’s one dose COVID-19 vaccine has been authorised by the European Union.

What to watch today:

  • It’s worth keeping an eye on Aussie tech shares like Afterpay (ASX:APT) and Appen (ASX:APX) given the tech rally overnight.
  • Travel and tourism stocks will continue to be in focus as the Federal Government added another 2 regional locations to its half price airfares scheme. This takes the total number of locations to 15.
  • Oil prices stormed higher overnight. The WTI crude oil and Brent crude oil price were both up about 2%. Energy producers like Santos (ASX:STO) and Woodside (ASX:WPL) could finish the week strongly.
  • Iron ore lifted 1.7%, gold and silver both fell about 0.2%, and copper rose 2.5%.
  • Finally, keep an eye on some of the most traded stocks from yesterday for our active trader desk. They were Pureprofile (ASX:PPL), Ioupay (ASX:IOU) and Digital Wine Ventures (ASX:DW8).

Trading ideas:

  • Acrow Formwork & Construction Services (ASX:ACF) remains a Bell Potter Buy with an increased price target of $0.44.
  • Bell Potter reiterated its Buy recommendation on Imdex (ASX:IMD) with an unchanged price target of $2.20. IMD was able to grow margins and earnings despite a benign exploration environment in H12021.
  • Separately – Nick Scali (ASX:NCK), Bingo Industries (ASX:BIN) and James Hardie (ASX:JHX) could be worth a look as they’re all giving off bullish charting signals according to Trading Central.

Market Update

Julia Lee
December 12, 2016

Market Update

Julia Lee
December 5, 2016

Market Update

Julia Lee
December 2, 2016

Market Update

Julia Lee
December 1, 2016

2016 Overview

Julia Lee
November 28, 2016

Market Update

Julia Lee
November 17, 2016

Peter Quinton on Trump’s victory

Bell Direct
November 17, 2016

Bell Potter: Banks post-results review

Bell Direct
November 11, 2016

mFund series: Peters MacGregor

Bell Direct
October 11, 2016

mFund series: RARE Infrastructure

Bell Direct
October 11, 2016