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Morning Bell 25 November

Paulina Peters
November 25, 2021

The ASX200 closed 0.15% lower yesterday, however, is still tracking 1% higher for the month of November.

Energy stocks led the gains, benefiting from a firmer crude oil price. Utilities advanced nearly 1% and both the Real Estate and Healthcare sectors managed to post small gains. The rest of the market closed in the red, with the Tech sector down the most, as bond yields climbed.

The top stocks of the day included Energy stocks like Beach Energy (ASX:BPT), Santos (ASX:STO) and Woodside Petroleum (ASX:WPL). Lendlease Group (ASX:LLC) rose 3.2%, as the company is in discussions with Google to potentially develop data centres. And leading the declines was TechnologyOne (ASX:TNE). Its share price has continued to slide since the release of its full year results on Tuesday.

The most traded stocks by Bell Direct clients yesterday included AVZ Minerals (ASX:AVZ), Commonwealth Bank (ASX:CBA) and Westpac (ASX:WBC), while both Vanguard’s Australian Shares ETF (ASX:VAS) and International Shares ETF (ASX:VGS) made the top ten.

In the US, the Dow closed slightly lower, while the S&P500 and Nasdaq managed to post gains, as the recent jump in bond yields cooled down.

This morning, the futures are suggesting the Aussie share market will open slightly higher this morning, up 0.12%

What to watch today:

  • In economic data, Private Capital Expenditure for Q3 will be released this morning. This measures the change in the total inflation-adjusted value of new capital expenditures made by private businesses.
  • Oil prices steadied as investors questioned Biden’s strategic oil stockpile release. The crude oil price is currently trading at US$78.28.
  • The gold price came under pressure following the release of strong US economic data, which appears to be supporting an increase in interest rates. And the spot iron ore price was up 2% to US$92.50 a tonne, while the seaborne iron ore price trades higher at US$94.33
  • Fisher & Paykel Healthcare (ASX:FPH) released their half year results this morning. Compared to the same period last year, NPAT was down 2%, operating revenue was also down 1%, while its interim dividend was increased by 6% to 17cps.
  • IOOF Holdings (ASX:IFL), Evolution Mining (ASX:EVN), NRW Holdings (ASX:NWH) Regis Resources (ASX:RRL), Kogan (ASX:KGN) and Ramelius Resources (ASX:RMS) will hold their AGM today.
  • Nufarm (ASX:NUF) and Australian Vintage (ASX:AVG) are set to go ex-dividend today.

Trading Ideas:

  • Bell Potter have maintained their BUY rating on funeral business, Propel Funeral Partners (ASX:PFP) and have increased its price target to $5 (previously $4.90). PFP closed 3% higher yesterday to $4.44, which implies 12.7% share price growth in a year.
  • Bullish charting signals have been identified in Strandline Resources (ASX:STA), Capricorn Metals (ASX:CMM) and OM Holdings (ASX:OMH), according to Trading Central.

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