Skip to main content

Morning Bell 10 November

Sophia Mavridis
November 10, 2021

The ASX200 lost 0.2% yesterday. Financials were down – CBA, ANZ and Westpac declined, as did NAB after releasing positive full-year results. NAB reported profits rebounded, increasing 77% and declared a $0.67 final dividend, which is more than double what it paid this time last year.

Chalice Mining (ASX:CHN) jumped an impressive 28.5% after they uncovered the world’s largest nickel sulphide discovery in the last 20 years. Ingham’s Group (ASX:ING) was the worst performer, falling 4.5% and currently a Bell Potter and Citi BUY.

European and US markets closed lower, taking in US producer inflation data. The S&P500 fell for the first time in nine sessions, down 0.4%. The Dow Jones down 0.3% and the Nasdaq down 0.6%.

Despite US equities falling from their records, the SPI futures are suggesting the ASX200 will open 0.27% higher.

What to watch today:

  • Medical equipment company ResMed (ASX:RMD) is set to go ex-dividend today.
  • AGMs will be held today for Amcor (ASX:AMC), Coles (ASX:COL), Sims (ASX:SGM), Vicinity Centres (ASX:VCX), Mount Gibson Iron (ASX:MGX) and Newcrest Mining (ASX:NCM).
  • The most traded stocks by Bell Direct clients yesterday were Northern Star Resources (ASX:NST) and the Crypto Innovators ETF (ASX:CRYP), which has surpassed $100 million in trading volume, its first three days floating on the exchange.
  • Keep watching those travel stocks, as yesterday NSW reached 90% fully vaccinated of those over 16 yrs.
  • The oil price is trading more than 3% higher, above US$84 a barrel. Gold reached a new 2-month high, amid rising inflation expectations. And, the price of coal is lower, as is seaborne iron ore, currently trading just under US$92 a tonne.

Trading ideas:

  • Bell Potter maintain their BUY rating on National Australia Bank (ASX:NAB), and have increased their price target to $32, after the bank reported impressive full year results, which were mostly in line with expectations. Yesterday NAB closed at $28.89, implying 10.8% share price growth in a year.
  • Additionally, bullish charting signals have been identified in Boss Energy (ASX:BOE), Lotus Resources (ASX:LOT) and De Grey Mining (ASX:DEG), according to Trading Central.

Morning Bell 18 May

Sophia Mavridis
May 18, 2022

Morning Bell 17 May

Sophia Mavridis
May 17, 2022

Morning Bell 16 May

Paulina Peters
May 16, 2022

Weekly Wrap 13 May

Sophia Mavridis
May 13, 2022

Morning Bell 12 May

Paulina Peters
May 12, 2022

Morning Bell 11 May

Sophia Mavridis
May 11, 2022

Morning Bell 10 May

Paulina Peters
May 10, 2022

Morning Bell 9 May

Sophia Mavridis
May 9, 2022

Weekly Wrap 6 May

Sophia Mavridis
May 6, 2022

Morning Bell 5 May

Paulina Peters
May 5, 2022

Morning Bell 4 May

Sophia Mavridis
May 4, 2022

Morning Bell 3 May

Paulina Peters
May 3, 2022