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 30 December

Bell Direct
December 30, 2019

From the Helm: Michael McCorry

Bell Direct
December 23, 2019

Morning Bell 23 December

Bell Direct
December 23, 2019

Morning Bell 19 December

Bell Direct
December 19, 2019

Morning Bell 18 December

Bell Direct
December 18, 2019

Morning Bell 17 December

Bell Direct
December 17, 2019

Morning Bell 16 December

Bell Direct
December 16, 2019

Morning Bell 12 December

Bell Direct
December 12, 2019

Morning Bell 10 December

Bell Direct
December 10, 2019

Morning Bell 9 December

Bell Direct
December 9, 2019

Weekly Wrap 6th December

Bell Direct
December 6, 2019

Market Update 4 Dec

Bell Direct
December 4, 2019