Between the Bells

Morning Bell 28 July


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The Aussie share market will likely open lower, with the futures suggesting a fall of 0.3%. 

What to watch today: 

  • Inflation data will be released at 11:30am. The market expects consumer prices to grow 3.8% year on year. If inflation is higher than expected, further selling in the market may be seen today. 
  • At the NSW press conference at 11am this morning, the Premier will likely announce an extension to Sydney’s lockdown. Stocks that will be impacted include Shopping Centres Australasia (ASX:SCP) and Vicinity Centres (ASX:VCX). Further selling is also expected in travel businesses, including Flight Centre (ASX:FLT) and Ingenia (ASX:INA). 
  • Life360 (ASX:360) reported better than expected earnings results. 
  • IGO (ASX:IGO) reported quarterly results with NPAT up 981% and free cashflow up 122%. 
  • Rio Tinto (ASX:RIO) is due to report today after the market close. 
  • The oil price holds around US$72 a barrel. The copper price continues to rise 0.4%, while the iron ore price fell slightly. 

Trading Ideas: 

  • Ai-Media Technologies (ASX:AIM) is a Bell Potter BUY stock. It was upgraded with a new price target of $1.50, implying 63% share price growth in a year. 
  • QBE Insurance (ASX:QBE), Ampol (ASX:ALD) and Chimeric Therapeutics (ASX:CHM) are all giving of bullish charting signals according to Trading Central. 
...more
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Between the BellsBy Bell Direct


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