Between the Bells

Morning Bell 19 May


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 The Aussie share market is set to open 1.1% lower, following Wall Street overnight. 

The Australia government pushes for reusable, recyclable and compostable plastics. 

What to watch today: 

  • Resolute Mining (ASX:RSG) is the best performer in the ASX200 this month, up 29%.
  • Watch iron ore as China plans to set up exploration and production facilities. Iron ore stocks have been trading at a record high. Watch Fortescue Metals (ASX:FMG), Mineral Resources (ASX:MIN), Magnetite Mines (ASX:MGT), Aeris Resources (ASX:AIS) and BCI Minerals (ASX:BCI). 
  • The Federal Government greenlighted a $600 million Gas fired power station to be built in the NSW Hunter Valley, so keep an eye on AGL Energy (ASX:AGL).
  • The Australian Government wants all plastics to be reusable, recyclable or compostable by 2025. So keep an eye on packing stocks like Amcor PLC (ASX:AMC), Orora (ASX:ORA), Pact Group Holdings (ASX:PGH) and Pro- pac Packaging (ASX:PPG). 
  • US President Joe Biden is pushing for electric-vehicle production. A $174 billion EV plan is urging automakers to build zero-emission vehicles in the US.
  • Webjet (ASX:WEB) to report company results today.
  • AGMs being held today: A.P. Eagers Limited (ASX:APE) and G8 Education (ASX:GEM).
  • In economic news, consumer confidence will be released at 11:30am AEST. 
  • The most traded stocks yesterday: Nuix (ASX:NXL), Kincore Copper (ASX:KCC) and Macquarie Group (ASX:MQG).

Trading Ideas: 

  • Bell Potter have upgraded their recommendation on Lovisa Holdings (ASX:LOV) to a BUY, with a $15.50 price target. 
  • Medusa Mining (ASX:MML), Virgin Money (ASX:VUK), and Empired (ASX:EPD) are all giving off bullish charting signals according to Trading Central. 
...more
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Between the BellsBy Bell Direct


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