Skip to main content

Morning Bell 21 March

Sophia Mavridis
March 21, 2022

Last week ended on a positive note, as Aussie shares closed higher for the third straight session, closing 0.6% on Friday, and lifting its weekly gain by 3.3%.

The energy sector led the market after the oil price rose 9%, while the tech sector followed. The technology sector was led by Block (ASX:SQ2), which rose 7.2% to $168.88. Liontown Resources (ASX:LTR), Paladin Energy (ASX:PDN) and Telix Pharmaceuticals (ASX:TLX) were among the top performers, while Megaport (ASX:MP1) fell 8%, following news that its founder and chairman, Bevan Slattery, had sold $3 million MP1 shares.

The most traded stocks by Bell Direct clients on Friday included Lake Resources (ASX:LTR), Core Lithium (ASX:CXO) and BHP Group (ASX:BHP).

US stocks posted their best week since 2020. The Dow rose more than 270 points or 0.8%, the S&P500 rose 1.1% and the Nasdaq rose 2.05%.

What to watch today:

  • Following the rally on Wall Street, the local market is set to rise 0.81% at the open this morning, going by the SPI futures.
  • In commodities, oil is trading 2% higher at US$104.95 a barrel, after a 8% rally in the previous session.
  • Gold weakened past US$1,940 an ounce. And seaborne iron ore is higher at US$159.59 a tonne.
  • Adairs (ASX:ADH) and NRW Holdings (ASX:NWH) are set to go ex-dividend today.

Trading Ideas:

  • Bell Potter maintained their BUY rating on The a2Milk Company (ASX:A2M) and have lowered their price target from $7.70 to $7.15. They expect the scope for EPS to double by FY26, if the company can execute on its China offline expansion strategy, while regaining 50% of the lost sales in its English label IMF, from FY20-21. A2M last closed to $5.40, implying 32.4% share price growth in a year.
  • Trading Central have identified a bullish signal in AVZ Minerals (ASX:AVZ), indicating that the price may rise from the close of $0.92 to the range of $1.20 to $1.28, over 68 days.

Morning Bell 28 March

Sam Kanaan
March 28, 2024

Morning Bell 27 March

Grady Wulff
March 27, 2024

Morning Bell 26 March

Grady Wulff
March 26, 2024

Morning Bell 25 March

Grady Wulff
March 25, 2024

Weekly Wrap 22 March

Sophia Mavridis
March 22, 2024

Morning Bell 22 March

Sam Kanaan
March 22, 2024

Market Insights: As Good as Gold

Grady Wulff
March 21, 2024

Morning Bell 21 March

Sophia Mavridis
March 21, 2024

Morning Bell 20 March

Sam Kanaan
March 20, 2024

Morning Bell 19 March

Sam Kanaan
March 19, 2024

Morning Bell 18 March

Sophia Mavridis
March 18, 2024

Weekly Wrap 15 March

Grady Wulff
March 15, 2024