Skip to main content

Morning Bell 22 November

Sophia Mavridis
November 22, 2021

On Friday the ASX200 edged 0.2% higher. Healthcare, Consumer Staples and Materials made the most gains, while the Industrials and Information Technology sectors declined the most.

Casino group, Crown Resorts (ASX:CWN) rose more than 16% on Friday, off the back of news that US private equity group Blackstone, who currently own 10% of Crown, put forward a merger proposal, bidding $12.50 cash per share. The board are currently considering the offer.

The most traded stocks by Bell Direct clients on Friday included the BetaShares Gold ETF (ASX:QAU) and Queensland Pacific Metals (ASX:QPM).

In overseas markets, European markets closed lower as Austria re-enters a national lockdown. US equities also struggled on Friday; however tech share posted a winning week. Global markets were weighed down by heightened inflation and COVID-19 concerns.

Today, following European & US markets, the SPI futures are suggesting the ASX200 will fall 0.6% at the open.

What to watch today:

  • The oil price is trading 3.7% lower, below US$76 a barrel, nearing levels not seen in 7-weeks.
  • Gold is trading at its lowest level in 2-weeks.
  • The seaborne iron ore price has moved slightly higher, trading just above US$92 a tonne.
  • Elders (ASX:ELD) is set to go ex-dividend today. Last week the company announced a final dividend of 22cps franked to 20%.

Trading ideas:

  • Bell Potter has maintained their BUY rating on footwear retailer and distributer Accent Group (ASX:AX1) and have increased their price target from $2.90 to $3.05. AX1 recovered from early losses on Friday, closing at $2.68, which implies 13.8% share price growth in a year.
  • Bullish charting signals have been identified in Ardea Resources (ASX:ARL) and Breville Group (ASX:BRG) according to Trading Central.

Morning Bell 9 August

Paulina Peters
August 9, 2022

Morning Bell 8 August

Sophia Mavridis
August 8, 2022

Weekly Wrap 5 August

Sophia Mavridis
August 5, 2022

Morning Bell 4 August

Paulina Peters
August 4, 2022

Morning Bell 3 August

Sophia Mavridis
August 3, 2022

Morning Bell 2 August

Paulina Peters
August 2, 2022

Morning Bell 1 August

Sophia Mavridis
August 1, 2022

Weekly Wrap 29 July

Sophia Mavridis
July 29, 2022

Morning Bell 28 July

Paulina Peters
July 28, 2022

Morning Bell 27 July

Paulina Peters
July 27, 2022

Morning Bell 26 July

Sophia Mavridis
July 26, 2022

Morning Bell 25 July

Sophia Mavridis
July 25, 2022