Between the Bells

Morning Bell 11 January


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The Aussie share market is suggesting a 0.1% gain at the open after the market rose 2.6% last week.

What to watch today:

  • If Brisbane will end its 3-day lockdown at 6pm tonight or if it will be extended with a decision to be made this morning. 
  • Australian retail sales data, which is expected to show a 7% jump in spending in November.

All eyes will be on commodities:

  • Iron ore stocks could rise as the iron ore price rose to US$169, a new 9-year high.
  • Gold stocks could see some selling after money poured back into equities, pulling gold down $112 in a week to US$1,835.

Local trading ideas:

  • Citi upgraded ARB (ASX:ARB) to a buy with a $34.25 price target. 
  • Bapcor (ASX:BAP) is rated as a buy by Citi following cars sales momentum. 
  • ASX (ASX:ASX) is a Citi sell with a $68 price target. 
  • Accent (ASX:AX1) was rated as a Citi buy as profit margins are expected to increase. 
  • Humm Group (ASX:HUM), Harvey Norman (ASX:HVN) and Sonic Healthcare (ASX:SHL) are all giving off strong bullish charting signals according to Trading Central.
...more
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Between the BellsBy Bell Direct


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