Skip to main content

Morning Bell 5 July

Paulina Peters
July 5, 2022

Yesterday, our local market started the new trading week with an impressive gain of 1.1%, with all eleven industry sectors closing in the green. The energy sector posted the largest gains, up 2.6%, closed followed by the real estate sector and consumer discretionary sectors, which were both up around 2% each.

Looking at the ASX200 leaderboard, one of the best performers was Imugene (ASX:IMU), which lifted nearly 13% yesterday. Also performing well was coal producer New Hope Corporation (ASX:NHC) and real estate investment trust, Ingenia Communities (ASX:INA). Meanwhile, Magellan Financial Group (ASX:MFG) came under pressure, sinking 10% after its co-founder and former Chief Investment Officer, Hamish Douglass had been offloading a significant quantity of his shares in MMG.

The most traded stocks by Bell Direct clients yesterday were the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR), BHP Group (ASX:BHP) and the Vanguard Australian Shares ETF (ASX:VAS).

Wall Street was closed for the Independence Day holiday but in Europe the DAX fell 0.3% and the FTSE rose 0.9%, and US futures are pointing to declines tonight.

What to watch today:

  • The Australian share market is set to open flat, going by the SPI futures.
  • Economic news wise, for the third month in a row, the RBA is all but certain to lift interest rates, with the majority of economists believing a 50 basis point increase is locked in, which would take the official cash rate to 1.35%. Stay tuned for this announcement at 2:30pm AEST.
  • Moving to commodities, the WTI crude oil price is trading 2% higher at US$110 a barrel, as supply concerns boosted prices despite fears that a recession is looming. Gold is trading flat at US$1,809 an ounce. And the spot iron ore price trades 3.7% lower at US118 a tonne.
  • If you hold National Australia Bank (ASX:NAB), Incitec Pivot (ASX:IPL) or CIMIC Group (ASX:CIM), you will receive your dividend payment today.
  • Ardent Leisure Group (ASX:ALG), and Clime Capital (ASX:CAM) are set to go ex-dividend today.

Trading Ideas:

  • Citi have maintained its Buy rating on Australia’s global shipbuilder, Austal (ASX:ASB) with an increased price target from $2.35 to $2.91. At its current share price of $2.38, this implies 22%. share price growth in a year

Trading Central has a bullish signal on Immutep (ASX:IMM) indicating that the stock price may rise from the close of $0.32 to the range of $0.44 – $0.46 in the next 21 days according to standard principals of technical analysis.

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