Skip to main content

Morning Bell 24 June

Paulina Peters
June 24, 2021

Yesterday, the Aussie share market fell 0.6% to about 7,299 points.

Today, the Aussie share market looks set to fall again, with the futures suggesting the market will open 0.4% lower. This comes as NSW COVID-19 cases continuing to rise and the enforcement of new restrictions taking place, with the potential for further restrictions to be set in place in today’s update.

What to watch:

  • Following New Zealand enforcing a 72 hour pause on the NSW/ New Zealand travel bubble, Air New Zealand (ASX:AIZ) shares fell 1.7% and Sydney Airport (ASX:SYD) shares fell 2.2%.
  • Oil is holding at its record of US$73 a barrel, as US supplies tightened and the US dollar retreated, making it less expensive for buyers holding other currencies.
  • While rate hike concerns were eased by the US Fed yesterday, it wasn’t enough to lift the Gold price, which trades slightly lower, about 0.1%.
  • The iron ore price is trading higher approximately 0.2%.
  • The most traded stocks by Bell Direct clients and advised clients were Commonwealth Bank (ASX:CBA) and ANZ Bank (ASX:ANZ). Bell Direct clients also traded TechnologyOne (ASX:TNE).

Trading ideas:

  • Bell Potter have a BUY rating on Adacel Technologies (ASX:ADA) with a price target of $1.25. ADA is a global technology company that develops and implements air traffic management systems and air traffic control stimulation. ADA closed up about 4% yesterday, which implies 37% share price growth.
  • Bell Potter also have a BUY rating on Australia’s leading avocado grower, Costa Group Holdings (ASX:CGC) with a price target of $4.30.
  • K-TIG (ASX:KTG), Osteopore (ASX:OSX) and Compumedics (ASX:CMP) are all giving off bullish charting signals according to Trading Central.

Weekly Wrap 4 March

Sophia Mavridis
March 4, 2022

Morning Bell 3 March

Sophia Mavridis
March 3, 2022

Morning Bell 2 March

Sophia Mavridis
March 2, 2022

Morning Bell 1 March

Sophia Mavridis
March 1, 2022

Morning Bell 28 February

Sophia Mavridis
February 28, 2022

Weekly Wrap 25 February

Sophia Mavridis
February 25, 2022

Morning Bell 24 February

Paulina Peters
February 24, 2022

Morning Bell 23 February

Sophia Mavridis
February 23, 2022

Morning Bell 22 February

Paulina Peters
February 22, 2022

Morning Bell 21 February

Sophia Mavridis
February 21, 2022