Skip to main content

Morning Bell 10 May

Jessica Amir
May 10, 2021

On the eve of the Australian Federal Budget being handed down tomorrow night – with a massive $4 billion injection into infrastructure expected – the Aussie share market futures suggest the market will get off to a slow start this week – the futures suggesting a dip of 0.1%.

What to watch:

  • Iron ore surged over 3% taking the key steel ingredient off the charts to US$204. Morgan Stanley expects the iron ore price will rise to US$215 this year – and this will benefit Fortescue Metals Group (ASX:FMG).
  • All eyes on Crown Resorts (ASX:CWN) following an increased takeover offer and a merger proposal.
  • Pendal (ASX:PDL) reported half year results and entered a trading halt after announcing plans to buy a US investment company for $413 million.
  • The a2Milk Company (ASX:A2M) shares are likely to come under further pressure today as it advised it won’t be meeting its guidance and that its earnings will be significantly lower.
  • Economic news out – NAB business confidence for April.

Trading ideas:

  • Bell Potter reiterated Regis Resources (ASX:RRL) as a BUY but reduced its price target to $4.08, implying 51% growth in a year.
  • OceanaGold (ASX:OGC), Hazer (ASX:HZR) and Euro Manganese (ASX:EMN) are all giving off bullish charting signals according to Trading Central.

Morning Bell 6 December

Sam Kanaan
December 6, 2023

Morning Bell 5 November

Grady Wulff
December 5, 2023

Morning Bell 4 December

Sam Kanaan
December 4, 2023

Weekly Wrap 1 December

Grady Wulff
December 1, 2023

Morning Bell 1 December

Sam Kannan
December 1, 2023

Morning Bell 30 November

Sophia Mavridis
November 30, 2023

Morning Bell 29 November

Grady Wulff
November 29, 2023

Morning Bell 28 November

Sam Kanaan
November 28, 2023

Morning Bell 27 November

Grady Wulff
November 27, 2023

Weekly Wrap 24 November

Grady Wulff
November 24, 2023

Morning Bell 24 November

Sam Kanaan
November 24, 2023

Morning Bell 23 November

Grady Wulff
November 23, 2023