The Aussie share market is set to rally 1.1% or 76 points.
Watch to watch today:
- Traders are cautious as Sydney’s lockdown could possibly be extended until mid-August. Meanwhile, restrictions in Western Australia have ended.
- The oil price (WTI) rose 2.2% on Friday, to its highest level since 2019. Oil stocks will likely charge up today.
- The iron ore price fell 0.3% to US$216.00, however it is now back in record territory. In New York on Friday, BHP rose 1.4%, so Aussie iron ore stocks could follow.
- In economic news, building permits for May are out today, business and consumer confidence data will be released tomorrow and Wednesday, and unemployment figures for June will be released on Thursday.
- De Grey Mining (ASX:DEG) is a Bell Potter Speculative BUY stock, with an increased price target to $1.71, implying 36% share price growth in a year.
- Citi has downgraded its price targets on both Afterpay (ASX:APT) and Zip Co (ASX:Z1P), amid increased global competition. Afterpay’s target has been reduced to $125.00, and Zip Co’s target has been reduced to $10.25.
- Vmoto (ASX:VMT), Macarthur Minerals (ASX:MIO) and Unibail-Rodamco-Westfield (ASX:URW) are all giving off bullish charting signals according to Trading Central.