Skip to main content

Morning Bell 2 November

Jessica Amir
November 2, 2020

The Australian share market is eyeing a lift of 0.9% at the open. With one day left until the U.S. election, amid the uncertainty investors exercised caution, with the Dow Jones, S&P500 and Nasdaq losing 0.6%, 1.2% and 2.5% respectively.

Oil holds at a five-month low at US$35.79 on demand concerns with U.S. COVID-19 cases hitting an all time high, while Germany and France entered new lockdowns last week.

What to watch today:

  • AMP (ASX:AMP) confirmed its take-over offer from Ares Management Corporation is for $1.85 per share. On Friday AMP closed at $1.53, so expect a rally today.
  • Westpac (ASX:WBC) reported it full year results, reporting a cash earnings of $2.61b which was less than UBS’s forecast of $2.62b.
  • Results are out today for CSR (ASX:CSR).

Local trading ideas:

  • Bell Potter reiterated Medical Developments (ASX:MVP) as a Buy, but trimmed its price target to $7.50, implying 38% upside in the year. MVP has a new strategy for the green whistle in Europe and hired CSL’s former head of Seqirus as its CEO.
  • Citi reiterated Incitec Pivot (ASX:IPL) as a Buy with a $2.40 price target, expecting fertilisers to drive earnings growth in FY21.
  • Bell Potter reiterated Immutep (ASX:IMM) as a Speculative Buy with a 60 cent target, implying 131% upside in the year.
  • Rio Tinto (ASX:RIO), Mortgage Choice (ASX:MOC) and PKS Holdings (ASX:PKS) are all showing bullish charting signals according to Trading Central.

Morning Bell 20 May

Paulina Peters
May 20, 2021

Morning Bell 19 May

Jessica Amir
May 19, 2021

Morning Bell 18 May

Jessica Amir
May 18, 2021

Morning Bell 17 May

Jessica Amir
May 17, 2021

Weekly Wrap 14 May

Jessica Amir
May 14, 2021

Morning Bell 14 May

Sophia Mavridis
May 14, 2021

Morning Bell 13 May

Jessica Amir
May 13, 2021

Morning Bell 12 May

Paulina Peters
May 12, 2021

Morning Bell 11 May

Sophia Mavridis
May 11, 2021

Morning Bell 10 May

Jessica Amir
May 10, 2021

Weekly Wrap 7 May

Jessica Amir
May 7, 2021

Morning Bell 7 May

Sophia Mavridis
May 7, 2021