Between the Bells

Morning Bell 2 July


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The Aussie share market is set to rebound, with the futures suggesting a 0.4% lift to 7,205 points. 

US equities had a positive run, with all three major benchmarks closing higher. 

What to watch today:

  • Zip (ASX:Z1P) announced their partnership with fintech company Propell Holdings (ASX:PHL), making the company the first BNPL service on the Propell platform. Yesterday Zip’s share price rose 1.7% and Propell’s share price jumped just over 42%. 
  • Increases in superannuation payments came into effect yesterday, bumping up from 9.5 to 10%. This sees an additional $233 in super accounts for 6.7 million Aussies. 
  • New home loan data will be released at 11:30am AEST. 
  • Keep an eye on travel stocks as Sydney, Perth, Brisbane and Darwin are in lockdown and state borders have also been closing.
  • The oil price rose 2.1% and is trading at US$75 a barrel. The gold price is up 0.4%, copper is down 1.1% and the iron ore price is trading 1.3% lower.
  • CSL Limited (ASX:CSL) was one of the most traded stocks by our advised clients yesterday. The conflicting news headlines regarding health precautions for young people taking the AstraZeneca vaccine have correlated to CSL’s fall.
  • Bell Direct clients were also trading Australia and New Zealand Bank (ASX:ANZ), Nuix (ASX:NXL), and BetMakers Technology (ASX:BET). 

Trading ideas:

  • Bell Potter maintain their BUY recommendation on The a2 Milk Company (ASX:A2M) and maintain their $8.50 price target, with confidence in the company’s long-term potential in their distribution points in China. 
  • Bell Potter also maintain their SELL recommendation on infection prevention company Nanosonics (ASX:NAN), due to likely downgrades from its $130 million consensus revenue for FY22. 
  • Bullish charting signals have been seen for Fenix Resources (ASX:FEX), Red River Resources (ASX:RVR) and Humm Group (ASX:HUM), according to Trading Central. 
...more
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Between the BellsBy Bell Direct


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