Between the Bells

Morning Bell 30 June


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US equities reached a new record high yesterday. 

US American house prices grew 14.9% in April, beating expectations. 

This morning the Aussie share market is set to open higher, for the final day of the financial year. 

What to watch today: 

  • Across Australia, capital cities are in lockdown and states are closing their borders, contributing to the markets pull back form its record high. As panic buying takes off again, Woolworths (ASX:WOW) shares are up 4% and Metcash (ASX:MTS) shares are up 6%. As COVID-19 testing increases, healthcare stocks are also doing well, including Sonic Healthcare (ASX:SHL) which is up 3%. 
  • Today marks the final day of the Financial Year. During this time, investors often take profits from stocks doing well, and buy underperforming stocks. With this in mind, Redbubble (ASX:RBL) and Kogan (ASX:KGN) are down 30% this year, however both shares rose 5% this week to date. Other stocks to consider include: Zip (ASX:Z1P) and Collins Food (ASX:CKF). 
  • NSW small businesses will be able to apply for grants for lost revenue as a result of lockdowns. Commercial businesses are also being encouraged to negotiate rent prices. 
  • A ban on exporting mixed plastics will come into play tomorrow. Watch Amcor (ASX:AMC) and Pact Group (ASX:PGH). 
  • The iron ore price fell 0.4% to US$214.00, gold fell 0.1% to US$1,761.00, nearing an 11 week low, and the oil price is back over US$73.00. 

Trading Ideas: 

  • Alpha HPA Ltd (ASX:A4N), was reiterated as a Bell Potter Speculative BUY with an increased $0.83 target, implying 63% yearly upside.
  • FYI Resources (ASX:FYI), Chimeric Therapeutics (ASX:CHM), and Advanced Human Imaging (ASX:AHI) are all giving off bullish charting signals according to Trading Central. 

 

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Between the BellsBy Bell Direct


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