Between the Bells

Morning Bell 19 October


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The Aussie share market is set to open higher, with the futures suggesting a fall of 0.3%. 

 

What to watch today: 

  • Stocks exposed to China will be a focus today, as Chinese industrial production and economic growth both slowed more than expected. Australian companies such as commodity giants BHP (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue Metals (ASX:FMG), who export to China, would have noticed less commodity sales. 
  • In company news, BHP (ASX:BHP), Northern Star Resources (ASX:NST) and Stockland (ASX:SGP) are set to report quarterly numbers. 
  • BHP (ASX:BHP) announced the proposed merger of its Petroleum business with Woodside Petroleum (ASX:WPL) will likely go ahead in November 2021, creating a global top 10 energy company. Most analysts have BHP as a HOLD, except Macquarie who have BHP as a BUY with a 12-month price target of $56. 
  • Oil holds its new 7-year high at US$82.29, and the price of platinum has risen 2%. Watch Zimplans (ASX:ZMI), Challice Mining (ASX:CHN) and Podium Minerals (ASX:POD). Palladium is up almost 3%, so you could also watch CHN, Liontown Resources (ASX:LTR) and Impact Minerals (ASX:IPT). 

 

Trading Ideas: 

  • Bell Potter reiterated Temple and Webster (ASX:TPW) as a HOLD with a 12-month price target of $12.75. 
  • Bullish charting signals have been identified in Mayne Pharma (ASX:MYX), Centaurus (ASX:CTM) and Emyria (ASX:EMD) according to Trading Central. 

 

...more
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Between the BellsBy Bell Direct


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