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.

Equity Investor 10 September

Julia Lee
September 11, 2018

Equity Investor 3 September

Julia Lee
September 4, 2018

Market Update

Julia Lee
August 31, 2018

Equity Investor 27 August

Julia Lee
August 28, 2018

Market Update

Julia Lee
August 27, 2018

Market Update

Julia Lee
August 24, 2018

Weekly Wrap 24 August

Julia Lee
August 24, 2018

Market Update 23 August

Julia Lee
August 23, 2018

Weekly Wrap 17 August

Julia Lee
August 17, 2018

Equity Investor 13 August

Julia Lee
August 14, 2018

Equity Investor 6 August

Julia Lee
August 7, 2018