Morning Bell 14 October

Bell Direct
October 14, 2020

After five days of straight gains, it looks like some profit taking is in order today. The futures are suggesting a fall of 0.9% today.

The reason sentiment is likely to be weak today is because global equities pulled back overnight with the UK recording its highest daily rise in COVID-19 deaths.

In the U.S., Johnson & Johnson’s COVID-19 vaccine study was paused due to an unexplained illness in a patient study, seeing J&J shares slide 2.3%.

What to watch today:

  • The oil price gained 2% to US$40.17, while Gold fell about 2% to US$1,894.
  • Afterpay (ASX:APT) received finalisations and clearance from AUSTRAC’s audit.
  • Bank of Queensland (ASX:BOQ) reported its net profit fell 61%. Auckland International Airport (ASX:AIA) and Aurizon Holdings (ASX:AZJ) also report.
  • AGMs today: CSL (ASX:CSL), Cleanaway Waste Management (ASX:CWY) and Aurizon Holdings (ASX:AZJ).
  • Overnight, the International Monetary Fund (IMF) revised its global economic growth forecasts higher to a 4.4% contraction, up from negative 4.9% growth for 2020.


Trading ideas:

  • Orica (ASX:ORI), a leading explosives manufacturer was reiterated as a Citi Buy with a new increased target of $19.50. Citi is expecting medium-term earnings growth underpinned by higher pricing, increased technology sales and better plant utilisation.
  • Following Telstra’s (ASX:TLS) AGM yesterday UBS maintained Telstra as a Buy with $3.70 target.
  • BCI Minerals (ASX:BCI), Silver Lake Resources (ASX:SLR) and Ramelius Resources (ASX:RMS) are all showing bullish charting signals – according to Trading Central.

Morning Bell 28 September

Jessica Amir
September 28, 2021

Morning Bell 27 September

Jessica Amir
September 27, 2021

Weekly Wrap 24 September

Jessica Amir
September 24, 2021

Morning Bell 24 September

Sophia Mavridis
September 24, 2021

Morning Bell 23 September

Paulina Peters
September 23, 2021

Morning Bell 22 September

Jessica Amir
September 22, 2021

Morning Bell 21 September

Jessica Amir
September 21, 2021

Morning Bell 20 September

Jessica Amir
September 20, 2021

Weekly Wrap 17 September

Jessica Amir
September 17, 2021

Morning Bell 17 September

Paulina Peters
September 17, 2021

Morning Bell 16 September

Jessica Amir
September 16, 2021

Morning Bell 15 September

Jessica Amir
September 15, 2021