Morning Bell 2 February

Jessica Amir
February 2, 2021

The ASX200 is eyeing a lift of 0.8% at the open.

The S&P500 and NASDAQ gained 1.6% and 2.6% respectively.

GameStop shares fell 32% after it gained 400% last week.

What to watch today:

  • Commbank (ASX:CBA) reported a 0.2% increase in its mandatory capital following the sale of its life insurance business.
  • The oil price gained 2.8% with Saudi’s supply cuts kicking in. Demand is also likely to rise as one of the worst snowstorms hit the northwest US.
  • The RBA will meet for the first time this year with rates expected to hold at 0.1%.

Local trading ideas:

  • Mesoblast (ASX:MSB) was reiterated as a speculative buy by Bell Potter with a $5.10 target, implying 102% growth from yesterday’s close.
  • Healius (ASX:HLS) was upgraded by UBS from a sell to a buy with a price target of $4.40.

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