Morning Bell 17 August

Jessica Amir
August 17, 2021

This morning, the Aussie share market is set to open higher.

 

What to watch today:

  • The financial sector, led by Commonwealth Bank (ASX:CBA) and other major banks, has started to trend lower, putting weight on the market. Technical traders are taking profits from the big banks. CBA shares have fallen for the third day. Amid lockdowns, expect further selling in banks.
  • Galaxy Resources (ASX:GXY) has received court approval for its merger with Orocobre (ASX:ORE), making the company Australia’s biggest lithium miner and the 5th biggest in the world.
  • Breville (ASX:BRG) reported its best year of sales, with $1.2 billion in sales for the 2021 financial year. BRG reported a 25% increase in profits to $91 million, meeting expectations.
  • SCA Property Group (ASX:SCP) reported its NPAT rose 441% to $462.9 million. This was driven by an increase in the fair value of its investment properties. Reports beat profit expectations of $151.3 million.
  • Sims Metals Management (ASX:SGM) reported its profit after tax surged 186.5% to $229.4 million. Profit expectations were $235 million.
  • BHP (ASX:BHP) will report today after market close.
  • The oil price is trading 0.3% higher at US$67.40 a barrel.
  • The gold price has gained for the fourth session and is trading at US$1,789, while the iron ore price fell 0.6% to US$166.96.
  • The RBA meeting minutes will be released today.

 

Trading Ideas:

  • Australia’s largest insurance broker Steadfast Group (ASX:SDF) was reiterated as a Citi BUY. The investment house increased SDF’s price target from $4.60 to $5.30.
  • PPK Group (ASX:PPK), PKS Holdings (ASX:PKS) and Liberty Financial Group (ASX:LFG) are all giving off bullish charting signals, according to Trading Central.

Weekly Wrap 3 December

Sophia Mavridis
December 3, 2021

Morning Bell 2 November

Paulina Peters
December 2, 2021

Morning Bell 1 December

Sophia Mavridis
December 1, 2021

Morning Bell 30 November

Paulina Peters
November 30, 2021

Morning Bell 29 November

Sophia Mavridis
November 29, 2021

Weekly Wrap 26 November

Sophia Mavridis
November 26, 2021

Morning Bell 25 November

Paulina Peters
November 25, 2021

Morning Bell 24 November

Sophia Mavridis
November 24, 2021

Morning Bell 23 November

Paulina Peters
November 23, 2021

Morning Bell 22 November

Sophia Mavridis
November 22, 2021

Weekly Wrap 19 November

Sophia Mavridis
November 19, 2021

Morning Bell 18 November

Paulina Peters
November 18, 2021