Skip to main content

Morning Bell 1 July

Paulina Peters
July 1, 2021

The Aussie share market closed out its best financial year in over 30 years on Wednesday, with shares rebounding despite a negative start to the week’s trading.

This morning, the Aussie share market looks set to start the New Financial Year slightly lower, with the futures suggesting the market will open down 0.08%.

What to watch today:

  • In economic news, Australia’s Balance of Trade data for May will be released today at 11:30am AEST.
  • On the COVID-19 front, the Prime Minister has extended no-fault indemnity insurance to GPs who administer the AstraZeneca vaccine to younger age groups. So far, 26% of Australians have received their first dose. With only 3.47% fully vaccinated.
  • The oil price rose on Wednesday, trading at about US$73.55 a barrel, after data showed US crude stockpiles were shrinking and an OPEC report foresaw an undersupplied market this year.
  • The gold price rose 0.45%, still on track for its worst month in more than 4 years.
  • The iron ore price continues to trade at US$214.00.

Trading ideas:

  • Bell Potter has a BUY rating on location-based information technology company Life360 (ASX:360), increasing its price target by 11% to $7.75 (previously $7.00). That’s a 15% premium to the share price.
  • Bell Potter also has a BUY rating on technology-based translation services business Straker Translations (ASX:STG), with a price target of $2.40. STG closed about 2% down yesterday, which implies 24% share price growth.
  • Prospect Resources (ASX:PSC), Musgrave Minerals (ASX:MGV) and Clinuvel Pharmaceuticals (ASX:CUV) are all giving off bullish charting signals according to Trading Central.

Morning Bell 23 May

Bell Direct
May 23, 2024

Morning Bell 22 May

Grady Wulff
May 22, 2024

Morning Bell 21 May

Sam Kanaan
May 21, 2024

Morning Bell 20 May

Grady Wulff
May 20, 2024

Weekly Wrap 17 May

Sophia Mavridis
May 17, 2024

Morning Bell 16 May

Sam Kanaan
May 16, 2024

Weekly Wrap 10 May

Grady Wulff
May 10, 2024

Morning Bell 10 May

Sam Kanaan
May 10, 2024

Morning Bell 9 May

Grady Wulff
May 9, 2024

Morning Bell 8 May

Grady Wulff
May 8, 2024

Morning Bell 7 May

Sam Kanaan
May 7, 2024