Skip to main content

Morning Bell 21 May

Sophia Mavridis
May 21, 2021

After a three-day losing streak, US equities made a comeback. Today, following the US, the Aussie share market is set to open higher, with the futures suggesting the market will rise 0.38% to 7,042 points.

What to watch:

  • New data from the ABS shows that the Australian economy is in a better than expected economic position post the pandemic, as the unemployment rate fell 5.5%.
  • Results of the Markit Manufacturing PMI and Australian Retail Sales will be released.
  • Qantas Airways (ASX:QAN) has announced two year wage freezes and that they’re offering redundancies to their international cabin crew. A few hundred jobs will be cut from Qantas’ international workforce in the hope of recovering from a $16 billion deficit caused my travel restrictions.
  • Adelaide Brighton Cement (ASX:ABC), Sydney Airport (ASX:SYD) and Dicker Data (ASX:DDR) hold their AGMs today.
  • The most traded stocks by Bell Direct clients yesterday were: Australia and New Zealand Bank (ASX:ANZ), Macquarie Group (ASX:MQG), and National Australia Bank (ASX:NAB).
  • The Oil price dropped again, it fell 2.24%. So keep an eye on energy producers such as Santos (ASX:STO). The fall comes as traders have been selling oil amid the news of the potential removal of Iranian sanctions on crude oil exports.
  • The Gold price rose 0.41%, Copper is down 1.12% and Iron Ore is down 0.38%.

Trading ideas:

  • Bell Potter has maintained its BUY recommendation on Australian Pharmaceutical Industries (ASX:API), following Pfizer’s decision to revert back to a wholesaler distribution model later this year, with an unchanged price target of $1.50.
  • Codan (ASX:CDA), Cash Converters International (ASX:CCV) and Shaver Shop Group (ASX:SSG) are all giving off bullish charting signals, according to Trading Central.

Morning Bell 26 November

Jessica Amir
November 26, 2020

Morning Bell 25 November

Jessica Amir
November 25, 2020

Morning Bell 24 November

Jessica Amir
November 24, 2020

Morning Bell 23 November

Jessica Amir
November 23, 2020

Weekly Wrap 20 November

Jessica Amir
November 20, 2020

Morning Bell 20 November

Jessica Amir
November 20, 2020

Morning Bell 18 November

Jessica Amir
November 18, 2020

Morning Bell 17 November

Jessica Amir
November 17, 2020

Morning Bell 16 November

Jessica Amir
November 16, 2020

Weekly Wrap 13 November

Jessica Amir
November 13, 2020

Morning Bell 13 November

Jessica Amir
November 13, 2020