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Morning Bell 5 July

Jessica Amir
July 5, 2021

The Aussie share market is set to start the week flat.

As COVID-19 cases in NSW increase, many are questioning if Sydney’s two week lockdown will be extended on Friday.

What to watch today:

  • The Trans -Tasman bubble will resume today. Residents from South Australia, ACT, Tasmania and Victoria will be allowed to travel to New Zealand, provided they have not visited a designated hotspot.
  • In company news, Tabcorp (ASX:TAH) announced it is to demerge its Lotteries and Keno into an ASX listed business. The gambling industry has been successful amid the rise of lockdown leisure, which supports (ASX:TAH) shares. (ASX:TAH) shares are up 33% this year. Other gambling companies to watch include Aristocrat Leisure (ASX:ALL) and Jumbo Interactive (ASX:JIN).
  • In economic news, the RBA are set to meet tomorrow.
  • On Thursday, the US Fed are set to release their last meeting minutes.
  • The iron ore price rose 0.3% to US$212.00. On Wall Street, BHP (ASX:BHP) and Rio Tinto (ASX:RIO) traded higher. The Aussie listed stocks are expected to follow.
  • The gold price rose 0.3% to US$1,787.
  • The oil price traded at US$75.00, at its highest level since October 2018.
  • The copper price rose 1%.

Trading Ideas:

  • Imdex (ASX:IMD) was reiterated as a Bell Potter BUY with a $2.35 target, implying 18% yearly upside.
  • Transurban (ASX:TCR), Syrah Resources (ASX:SYR) and Musgrave Minerals (ASX:MGV) are all giving off bullish charting signals according to Trading Central.

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