Morning Bell 11 October

Jessica Amir
October 11, 2021

The Aussie share market is set to open lower, with the futures suggesting a fall of 0.1%.

What to watch today:

  • Oil stocks were some of the best performers in the US and the same may occur on the ASX. The oil price rose to US$80 a barrel for the first time since 2014, as oil demand rebounds and supply remains low. The oil price has gained 60% this year and the market expects tight supply to remain for 6 months.
  • The iron ore price rose 5.4% to US$123.30 in China. This helped BHP in New York rise over 1%. Expect iron ore stocks like BHP (ASX:BHP), Fortescue Metals (ASX:FMG), Rio Tinto (ASX:RIO) and Mineral Resources (ASX:MIN) to follow.
  • Travel, tourism and food and beverage stocks are on watch ahead of NSW reopening its economy. Keep your eye on Australia‚Äôs biggest pub owner Charter Hall (ASX:CLW), as well as travel stocks that will likely see increased bookings.
  • In economic news, employment data will be released on Thursday for September.
  • Companies going ex-dividend today include Qualitas Real Estate Income Fund (ASX:QRI). RECHARGE FPO (ASX:REC) is due to list today.

Trading Idea:

  • Bell Potter reiterated its BUY rating on Mineral Resources (ASX:MIN), however slashed its price targe to $54.25 (previously $61.85), accounting for the drop in iron ore prices.
  • Bullish charting signals have been seen in Vimy Resources (ASX:VMY), Westgold Resources (ASX:WGX) and Calix (ASX:CXL) according to Trading Central.

Weekly Wrap 22 October

Sophia Mavridis
October 22, 2021

Morning Bell 21 October

Paulina Peters
October 21, 2021

Morning Bell 20 October

Jessica Amir
October 20, 2021

Morning Bell 19 October

Jessica Amir
October 19, 2021

Morning Bell 18 October

Jessica Amir
October 18, 2021

Weekly Wrap 15 October

Jessica Amir
October 15, 2021

Morning Bell 15 October

Paulina Peters
October 15, 2021

Morning Bell 14 October

Jessica Amir
October 14, 2021

Morning Bell 13 October

Jessica Amir
October 13, 2021

Morning Bell 12 October

Sophia Mavridis
October 12, 2021

Weekly Wrap 8 October

Jessica Amir
October 8, 2021

Morning Bell 8 October

Paulina Peters
October 8, 2021