Skip to main content

Morning Bell 23 February

Jessica Amir
February 23, 2021

The Aussie share market futures are suggesting a 0.2% rebound. Commodity stocks are set to lift the market, while the vaccine rollout continues to lift sentiment – with Australia awaiting the second shipment of Pfizer vaccines today.

What to watch today:

  • Commodity stocks will dominate headlines and will likely continue to do so this year as prices continue to rise on Chinese demand and lack of supply.
  • Iron ore darling stocks like Fortescue Metals (ASX:FMG), BHP (ASX:BHP), Rio Tinto (ASX:RIO) and Mineral Resources (ASX:MIN).
  • Oil stocks will be in focus – Oil price jumped 4% to US$61.69 – with the price likely to continue to push up, as US oil rigs remain shut due to a cold weather snap, while oil demand continues.
  • Silver and copper stocks also on the radar – Silver rose 3.5% and Copper surged 1.5%
  • Results out of the gate today:
    • Adbri (ASX:ABC) – NPAT hit $93.7m, which is weaker than the $104m expected.
    • Alumina (ASX:AWC) announced profit fell 31% to $US147m. Disappointing shareholders expecting US$183m.
    • HUB24 (ASX:HUB) announced its profit rose 19% in the half-year and it declared a record dividend.
    • Macmahon Holdings (ASX:MAH) announced its profit rose 56% in the half-year to $44.8 million.

Trading ideas:

  • Bell Potter upgraded Costa Group’s Ltd (ASX:CGC) Buy rating with an increased $5.10 price target after CGC’s profit rose 100%.
  • Bell Potter reiterated Senex Energy’s (ASX:SXY) Buy rating with a price target of $0.46.
  • Champion Iron (ASX:CIA), Piedmont Lithium (ASX:PLL) and NZME (ASX:NZM) are all giving off bullish charting signals according to Trading Central.

Morning Bell 21 November

Bell Direct
November 21, 2024

Morning Bell 20 November

Bell Direct
November 20, 2024

Morning Bell 19 November

Bell Direct
November 19, 2024

Morning Bell 18 November

Bell Direct
November 18, 2024

Weekly Wrap 15 November

Bell Direct
November 15, 2024

Morning Bell 14 November

Bell Direct
November 14, 2024

Morning Bell 13 November

Bell Direct
November 13, 2024

Morning Bell 12 November

Bell Direct
November 12, 2024

Morning Bell 11 November

Bell Direct
November 11, 2024

Weekly Wrap 8 November

Bell Direct
November 8, 2024

Morning Bell 7 November

Bell Direct
November 7, 2024

Morning Bell 6 November

Bell Direct
November 6, 2024