Skip to main content

Morning Bell 4 August

Jessica Amir
August 4, 2021

The Aussie share market is likely to head back into record high territory today. The futures are suggesting a rise of 0.1%.

What to watch today:

  • The iron ore price has stabilised. Spot iron ore prices rose 0.3%, and seaborne iron ore prices held steady after a 14% fall in the previous selling. This supported investors buying into BHP In New York overnight, helping BHP shares rise 1.7%. Therefore, (ASX:BHP) and other iron ore stocks on the ASX are likely to follow.
  • The oil price fell slightly 0.3% to US$70.35.
  • Consumer Confidence data to be released for August. Keep an eye on the reaction in consumer spending stocks.
  • BWP Trust (ASX:BWP) released their earnings. Headline profit fell about 3% to $114 million, slightly under what the market expected of $114.7 million in profit.
  • GUD Holdings (ASX:GUD) are set to report.

Trading Ideas:

  • Laybuy Group (ASX:LBY) was reiterated as a Bell Potter Speculative BUY, with a much slimmer price target of $1.20. This implies over 100% share price growth in a year.
  • Chalice Mining (ASX:CHN), Nearmap (ASX:NEA), and Warrego Energy (ASX:WGO) are all giving off bullish charting signals, according to Trading Central.

Weekly Wrap 12 July

Grady Wulff
July 12, 2024

Morning Bell 11 July

Grady Wulff
July 11, 2024

Morning Bell 10 July

Grady Wulff
July 10, 2024

Morning Bell 9 July

Sophia Mavridis
July 9, 2024

Morning Bell 8 July

Grady Wulff
July 8, 2024

Weekly Wrap 5 July

Bell Direct
July 5, 2024

Morning Bell 4 July

Bell Direct
July 4, 2024

Morning Bell 3 July

Bell Direct
July 3, 2024

Morning Bell 2 July

Bell Direct
July 2, 2024

Morning Bell 1 July

Bell Direct
July 1, 2024

Weekly Wrap 28 June

Bell Direct
June 28, 2024

Morning Bell 28 June

Bell Direct
June 28, 2024