Market wraps 19th April 2021
Morning Bell - Paulina Peters
The Aussie share market is set to extend last week’s advance and start the week higher, with the futures suggesting the market will lift 0.5% to 7,071 points. This takes the market just 1% away from the record set before the pandemic.
What to watch today:
- The country’s leaders will be discussing today a reset of the vaccination program, which could lead to people aged over 50 being vaccinated sooner and further mass-vaccination sites opening.
- The oil price dipped, but still posted a gain for the week. This was driven by optimism over a recovery in demand.
- Gold miners like Newcrest Mining (ASX:NCM) and Northern Star Resources (ASX:NST) could start the week on a positive note after the Gold price pushed higher on Friday night.
- Stocks going ex-dividend this week include mining company New Hope Group (ASX:NHC) and investment company Soul Pattinson (ASX:SOL).
- The most traded stocks last Friday from our active trader desk, Bell Direct Advantage. They were Brainchip (ASX:BRN), Magnetite Mines (ASX:MGT), which both rose about 7% and Oneview (ASX:ONE), up about 2.5%.
- Bell Potter has lifted its price target for Eagers Automotive (ASX:APE) to $16.50, previously $15.50. Bell Potter’s view is that a 2021 PE ratio in the mid to high teens is appropriate for what we can expect to be peak earnings for the company.
- Adairs (ASX:ADH), Medusa Mining (ASX:MML) and Beach Energy (ASX:BPT) are all giving off bullish charting signals according to Trading Central.