Skip to main content

Morning Bell 2 July

Sophia Mavridis
July 2, 2021

The Aussie share market is set to rebound, with the futures suggesting a 0.4% lift to 7,205 points.

US equities had a positive run, with all three major benchmarks closing higher.

What to watch today:

  • Zip (ASX:Z1P) announced their partnership with fintech company Propell Holdings (ASX:PHL), making the company the first BNPL service on the Propell platform. Yesterday Zip’s share price rose 1.7% and Propell’s share price jumped just over 42%.
  • Increases in superannuation payments came into effect yesterday, bumping up from 9.5 to 10%. This sees an additional $233 in super accounts for 6.7 million Aussies.
  • New home loan data will be released at 11:30am AEST.
  • Keep an eye on travel stocks as Sydney, Perth, Brisbane and Darwin are in lockdown and state borders have also been closing.
  • The oil price rose 2.1% and is trading at US$75 a barrel. The gold price is up 0.4%, copper is down 1.1% and the iron ore price is trading 1.3% lower.
  • CSL Limited (ASX:CSL) was one of the most traded stocks by our advised clients yesterday. The conflicting news headlines regarding health precautions for young people taking the AstraZeneca vaccine have correlated to CSL’s fall.
  • Bell Direct clients were also trading Australia and New Zealand Bank (ASX:ANZ), Nuix (ASX:NXL), and BetMakers Technology (ASX:BET).

Trading ideas:

  • Bell Potter maintain their BUY recommendation on The a2 Milk Company (ASX:A2M) and maintain their $8.50 price target, with confidence in the company’s long-term potential in their distribution points in China.
  • Bell Potter also maintain their SELL recommendation on infection prevention company Nanosonics (ASX:NAN), due to likely downgrades from its $130 million consensus revenue for FY22.
  • Bullish charting signals have been seen for Fenix Resources (ASX:FEX), Red River Resources (ASX:RVR) and Humm Group (ASX:HUM), according to Trading Central.

Weekly Wrap 27 May

Sophia Mavridis
May 27, 2022

Morning Bell 26 May

Paulina Peters
May 26, 2022

Morning Bell 25 May

Paulina Peters
May 25, 2022

Morning Bell 24 May

Sophia Mavridis
May 24, 2022

Morning Bell 23 May

Sophia Mavridis
May 23, 2022

Weekly Wrap 20 May

Sophia Mavridis
May 20, 2022

Morning Bell 19 May

Paulina Peters
May 19, 2022

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