Between the Bells

Morning Bell 20 October


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US stocks travelled higher overnight, boosted by stronger than expected earnings. 

This morning, the Aussie share market is set to open higher, with the futures suggesting a rise of 0.7%. 

What to watch today: 

  • In company news, Atlas Arteria (ASX:ALX) reported a 9.7% jump in toll revenue in the quarter, as traffic is picking up. 
  • Gold stocks to watch include Evolution Mining (ASX:EVN) which reported higher than expected production in the quarter and OZ Minerals (ASX:OZL) which announced copper production is tracking in line with guidance, while it expected gold production to increase. The copper price is also trading at a record all-time high. 
  • Flight Centre (ASX:FLT) is set to hold its AGM today. 
  • The oil price hit a new 7-year high overnight at US$83, after rising 0.7% overnight and 30% in two months. Watch Australis Oil & Gas (ASX:ATS) and Global Energy Ventures (ASX:GEV). Also watch this week’s best performing energy stocks, including Beach Energy (ASX:BPT) which is up 3.5% and Whitehaven Coal (ASX:WHC) which is up approximately 2%. 

Trading Ideas: 

  • The owner of Autobarn, Midas and Burson Autoparts, Bapcor (ASX:BAP) was reiterated as a Citi BUY stock with an increased 12-month target price of $8.75, implying 14% share price growth from yesterday’s close.
  • Bullish charting signals have been seen in Imugene (ASX:IMU), Lake Resources (ASX:LKE) and Nearmap (ASX:NEA), according to Trading Central. 

 

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Between the BellsBy Bell Direct


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