Skip to main content

Morning Bell 22 December

Jessica Amir
December 22, 2020

The ASX200 is eyeing a fall of 0.4% at the open as investors weigh up that the NSW restrictions could shave 0.1% off this quarter’s economic growth according to Citi analysts.

Pfizer’s vaccine has been approved for use in the EU, while half a million people have already received the first dose of the vaccine in the UK. There are concerns that a new COVID-19 strain is in the UK and is spreading much faster, which has triggered more severe lockdowns and travel restrictions across Europe. Health authorities do say there is no evidence of a higher death rate in the new mutated strain.

In the US, Moderna is shipping its first batch of its vaccine.

US lawmakers agreed on a US$900 billion rescue package including direct payments of $600 to most adults and $600 per child.

What to watch today:

  • Preliminary retail trade data is out today and is expected to show we spent 0.6% less in November. This comes after we splurged in October when retail trade rose 1.4%.
  • Orica (ASX:ORI) holds its AGM today.

Local trading ideas:

  • City Chic Collective (ASX:CCX) has announced the purchase of another distressed business. CCX will be entering the $9 billion UK market, after it inked a deal to buy 90-year Evans eCommerce and wholesale businesses. City Chic Collective is a Bell Potter buy and was given a new $4.10 target, which implies 16% upside in a year.
  • Bell Potter upgraded Aeris Resources’ (ASX:AIS) price target to $0.12 and maintained its buy rating. Aeris Resources received higher than expected copper grades from its recent drilling in NSW and its shares charged over 5% yesterday.
  • Bell Potter reiterated Nickel Mines (ASX:NIC) as a buy with a $1.49 target. NIC is also backed by Credit Suisse, Macquarie and Citi as a buy. Western Areas (ASX:WSA) is also a favoured nickel producer for Macquarie, Credit Suisse, and Citi.
  • NRW Holdings (ASX:NWH), Jupiter Mines (ASX:JMS) and Praemium (ASX:PPS) are all showing bullish charting signals according to Trading Central.

Weekly Wrap 21 June

Bell Direct
June 21, 2024

Morning Bell 20 June

Bell Direct
June 20, 2024

Morning Bell 18 June

Bell Direct
June 18, 2024

How to: Directors Interest Tool

Bell Direct
June 17, 2024

How to: Upcoming Dividends tool

Bell Direct
June 17, 2024

How to: Visual Depth Chart

Bell Direct
June 17, 2024

How to: Market to Limit VS Limit

Bell Direct
June 17, 2024

How to: bellinsight

Bell Direct
June 17, 2024