Skip to main content

Morning Bell 30 October

Jessica Amir
October 30, 2020

The Aussie share market is eyeing a gain of 0.6% at the open, a welcome lift from the 3.4% fall Monday to Thursday this week.

U.S. economic growth rebounded in the third quarter up 33.1%, beating expectations and almost in a V shape recovery formation. That rebound in growth erased the 31.4% plunge in GDP in the second quarter.

What to watch today:

  • AMP (ASX:AMP) confirmed it has received a takeover offer from Ares Management. The takeover offer amount was not disclosed, but you’d think AMP shares will rally on the hype.
  • Northern Star Resources (ASX:NST), ResMed (ASX:RMD) and National Storage REIT (ASX:NSR) report quarterly results today.
  • Carsales.Com (ASX:CAR), Austal (ASX:ASB), EML Payments (ASX:EML), GWA Group (ASX:GWA), Integral Diagnostics (ASX:IDX), Recce Pharmaceuticals (ASX:RCE) and Southern Cross Media Group (ASX:SXL) hold their AGMs today.

Local trading ideas:

  • Bell Potter reiterated The a2 Milk Company (ASX:A2M) as a sell with a $12.70 target, implying it will fall 11% in a year.
  • Citi reiterated ship builder Austal (ASX:ASB) as a buy, but trimmed its target price to $4.30.
  • UBS reiterated Newcrest Mining (ASX:NCM) as a buy, but trimmed its price target by 50 cents, to $38.00 with UBS saying although NCM’s costs are higher, its gold mine in WA is still growing nicely.
  • Matador Mining (ASX:MZZ), PRO-PAC Ltd (ASX:PPG) and Catapult Group International (ASX:CAT) are all showing bullish charting signals according to Trading Central.

Weekly Wrap 1 November

Bell Direct
November 1, 2024

Morning Bell 31 October

Bell Direct
October 31, 2024

Morning Bell 30 October

Bell Direct
October 30, 2024

Morning Bell 29 October

Bell Direct
October 29, 2024

Morning Bell 28 October

Bell Direct
October 28, 2024

Weekly Wrap 25 October

Bell Direct
October 25, 2024

Morning Bell 24 October

Bell Direct
October 24, 2024

Morning Bell 23 October

Bell Direct
October 23, 2024

Morning Bell 22 October

Bell Direct
October 22, 2024

Morning Bell 21 October

Bell Direct
October 21, 2024

Weekly Wrap 18 October

Bell Direct
October 18, 2024

Morning Bell 17 October

Bell Direct
October 17, 2024