Skip to main content

Morning Bell 28 September

Jessica Amir
September 28, 2021

The Aussie share market is set to open lower, with the futures suggesting a fall of 0.6%.

What to watch today:

  • The oil price rose for the fifth day, up 1.5% overnight to US$75.45, its highest level since July, amid supply concerns. Oil stocks will be on watch today.
  • The iron ore price in China rebounded 7.2% to US$119.31, supporting New York listed BHP and Rio Tinto, which rose 1% overnight. Expect ASX listed versions and other iron ore stocks to do well today.
  • Lithium stocks will also be on the radar today after Ford announced it’s going to spend $11.4 billion on creating two new lithium-ion battery plants, that will produce electric vehicles and batteries. The plants are to be built in Kentucky and Tennessee. Ford is building the twin lithium battery plants though a joint venture with South-Korean based SK Innovation.
  • In corporate news, Beach Energy (ASX:BPT) provided an investor update, announcing it will increase production to 28 million barrels of oil equivalent by financial year 2024. That’s a 13% compound annual growth rate. In addition, Beach Energy affirmed it’s on track to cut its carbon emissions by 25% from 2018 to 2025, with plans to be net zero emissions by 2050
  • In economic news, retail sales data for August is set to be released today at 11.30am. Sales fell 2.7% and are expected to fall again. Keep an eye on retailers, especially those impacted by import bottlenecks like Accent (ASX:AX1).

Trading Ideas:

  • UBS has a BUY rating on fertilizer business Incitect Pivot (ASX:IPL) and has increased IPL’s price target to $2.15.
  • Bullish charting signals have been seen in Carnarvon (ASX:CVN), Kalium Lakes (ASX:KLL), and Starpharma (ASX:SPL) according to Trading Central

Morning Bell 23 May

Bell Direct
May 23, 2024

Morning Bell 22 May

Grady Wulff
May 22, 2024

Morning Bell 21 May

Sam Kanaan
May 21, 2024

Morning Bell 20 May

Grady Wulff
May 20, 2024

Weekly Wrap 17 May

Sophia Mavridis
May 17, 2024

Morning Bell 16 May

Sam Kanaan
May 16, 2024

Weekly Wrap 10 May

Grady Wulff
May 10, 2024

Morning Bell 10 May

Sam Kanaan
May 10, 2024

Morning Bell 9 May

Grady Wulff
May 9, 2024

Morning Bell 8 May

Grady Wulff
May 8, 2024

Morning Bell 7 May

Sam Kanaan
May 7, 2024