Morning Bell 5 August

Sophia Mavridis
August 5, 2021

Yesterday the Aussie share market closed at a record high, just over 7,500 points.

Overnight, shares were mixed, with broad selling over on Wall Street.

Following US equities, this morning the Aussie share market is set to open lower, with the futures suggesting a 0.2% fall.

What to watch today:

  • Buy now, pay later company, Splitit (ASX:SPT) seems to be benefiting from Afterpay’s takeover announcement. Yesterday SPT closed 23% higher, while the leading BNPL stocks such as Z1P and APT closed with small gains.
  • Companies set to report their earnings: Centuria Industrial REIT (ASX:CIP) are set to report their half year results and News Corp (ASX:NWS) with report their 2021 fourth quarter and full year earnings.
  • In economic news, Balance of Trade data for June will be released today at 11:30am AEST.
  • The most traded stocks by Bell Direct clients yesterday. They were Bank of Queensland (ASX:BOQ), Fortescue Metals (ASX:FMG) and Silver Lake Resources (ASX:SLR).
  • The oil price has sunk 3.6% to US$68 a barrel, after US stockpiles increased.
  • The gold price is up 0.8%, and iron ore is also trading 0.8% higher at US$182.50 per tonne.

Trading ideas:

  • Bell Potter have a Speculative BUY recommendation on Comet Bridge (ASX:COI), with an increased price target to $0.18 (previously $0.13). Yesterday COI rallied 22% in afternoon trade, before closing higher 7.7%. COI’s capital growth is 98% in the year. However, Bell Potter believe are speculative on the stock, as the company only has prospective operations and cash flows, therefore recognising the volatility of returns.
  • Bullish charting signals have been identified in Core Lithium (ASX:CXO), Splitit Payment (ASX:SPT) and South32 (ASX:S32), according to Trading Central.

Weekly Wrap 3 December

Sophia Mavridis
December 3, 2021

Morning Bell 2 December

Paulina Peters
December 2, 2021

Morning Bell 1 December

Sophia Mavridis
December 1, 2021

Morning Bell 30 November

Paulina Peters
November 30, 2021

Morning Bell 29 November

Sophia Mavridis
November 29, 2021

Weekly Wrap 26 November

Sophia Mavridis
November 26, 2021

Morning Bell 25 November

Paulina Peters
November 25, 2021

Morning Bell 24 November

Sophia Mavridis
November 24, 2021

Morning Bell 23 November

Paulina Peters
November 23, 2021

Morning Bell 22 November

Sophia Mavridis
November 22, 2021

Weekly Wrap 19 November

Sophia Mavridis
November 19, 2021

Morning Bell 18 November

Paulina Peters
November 18, 2021