The Aussie share market is eyeing a 0.3% gain at the open with the focus on Victorian COVID-19 cases declining. The Aussie share market has gained 0.4% so far this week, this puts the market on pace to close higher for the first time in 6 weeks.
U.S. equities had their second straight negative session overnight, while stocks managed to end above their lows on Thursday. U.S. weekly job claims rose by 860,000 more than the expected 850,000, but the silver lining is that it’s the third week now unemployment numbers have been under 1 million.
Local trading ideas:
- Centuria Industrial REIT (ASX:CIP), Integrated Research (ASX:IRI) and NZME (ASX:NZM) are giving off bullish signals according to Trading Central’s charting.
- Immutep (ASX:IMM), an immunotherapy business fighting metastatic cancer, was initiated as a Bell Potter speculative buy with a $0.60 target, implying 179% price growth in a year.
- Beach Energy (ASX:BPT) has been called out a high risk buy by Citi with a $1.94 target as its generating a higher level of cash than its peers and selling higher amounts of gas. Citi estimates BPT will generate $1.1 billion in free cash flow, which is worth $0.30 a share.