Morning Bell 20 May

Jessica Amir
May 20, 2020

Aussie equities yesterday popped to a 6-week high after gaining 1.8%, which saw the ASX200 settle 22% up from its March low. But today it looks like some of those profits will be trimmed as Aussie futures suggest a 1.5% fall at the open.

It comes as US shares fell into the red in the final hour of trade on the back of news reports that raised concerns about a potential COVID-19 vaccine from Moderna.

A trading idea for today, Bell Potter reiterated Avita Medical (ASX:AVH) as a speculative BUY, with a price target of $0.81, implying a 78% share price growth in a year from yesterday’s close of $0.455.

Investors will be watching BHP (ASX:BHP), Fortescue Metals group (ASX:FMG), Rio Tinto (ASX:RIO), Sydney Airport (ASX:SYD) & Australian Agricultural Co (ASX:AAC).

In today’s morning bell, Jessica covers:

  • Local Markets – (0:02)
  • Corporate News – (0:35)
  • Global Markets – (1:12)

What to watch:

  • Australia’s iron ore majors – (1:50)
  • Sydney Airport (ASX:SYD) – (2:16)
  • Australian Agricultural Co (ASX:AAC) – (2:27)
  • Bell Potter trading idea: Avita Medical (ASX:AVH) – (2:59)

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