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Morning Bell 24 April

Sophia Mavridis
April 24, 2025

European markets rallied on hopes of cooling US – China trade tensions. The STOXX 600 gained 1.78%, German’s DAX gained more than 3%, France’s CAC up more than 2% and the FTSE 100 up 0.9%.

The three major US benchmarks were also all higher, posting back-to-back gains. The Dow Jones advanced 1.07% or 63 points, the S&P500 up 1.67%, while the tech- heavy Nasdaq advanced 2.5%.

What to watch today

  • The SPI futures are suggesting the Australian market will rise 0.16% at the open this morning.
  • Looking at commodities,
    • Crude oil has declined 2.24% to US$62.24 per barrel, amid the possibility that OPEC+ may continue to increase supply in upcoming months.
    • The price of gold is trading 0.69% lower at US$3,313.40 an once, after hitting a record of US$3,500 the prior session and contrasting with the rally in other dollar- denominated financial assets that benefited from expectations of a de-escalation in the China and US trade tensions.
    • While iron ore is trading higher, up 0.21% at US$100.09 per tonne.

Trading Ideas

  • Bell Potter maintains a Buy rating on Telix Pharmaceuticals (ASX:TLX) following a strong quarter of revenue growth. Their 12-month price target remains unchanged at $36.00 and at TLX’s current share price of $25.18, this implies 43% share price growth in a year.
  • And Trading Central have identified a bullish signal in Regis Healthcare (ASX:REG) indicating that the stock price may rise from the close of $6.75 to the range of $7.70 to $7.75 over 30 days, according to the standard principles of technical analysis.

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