Morning Bell 24 May

Jessica Amir
May 24, 2021

The Aussie share market is set to fall, with the futures suggesting the market will open 0.1% lower.

What to watch today:

  • Coal futures are trading at their highest levels since 2018, so keep an eye on Coronado Global Resources (ASX:CRN).
  • Oil stocks will be in focus, gaining 3% to $63.72 a barrel, as a storm in the Gulf of Mexico is expected to restrict supply.
  • Gold stocks are in focus, trading higher for the 7th session.
  • Iron ore rises again to US$200.
  • Elders Limited (ASX:ELD) and Centuria Capital Group (ASX:CNI) go ex-dividend this week.
  • Aristocrat Leisure (ASX:ALL) and Select Harvests (ASX:SHV) set to report company results today.
  • In economic news, construction work completed for the quarter is released on Wednesday and private sector spending data is released for the quarter on Thursday.
  • Most traded stocks by Bell Direct clients on Friday: Tyro Payments (ASX:TYR), Fortescue Metals Group (ASX:FMG) and Kogan (ASX:KGN).

Trading Ideas:

  • Life360 (ASX:360) has been reiterated as a Buy by Bell Potter with a $7.00 price target.
  • Galan Lithium (ASX:GLN), Empired (ASX:EPD) and Bank of Queensland (ASX:BOQ) are all giving off bullish charting signals according to Trading Central.

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