Market wraps 14th September 2020
Morning Bell - Jessica Amir
The Aussie share market is shaping up for a quiet start to the week with the futures eyeing a gain of 0.1% at the open. This comes after Wall Street wrapped up its session on Friday on a mixed note.
A very busy week is on the cards for markets with the RBA, the U.S. Fed, Bank of England and Japan to shed light on the state of each of their economies and potential further stimulus, as they release their central bank meeting minutes.
What to watch today:
- Macquarie (ASX:MQG) announced ambiguous guidance to the market for the first half of this financial year, saying its results will be down 35% compared to the same time last year and 25% less than the second half.
- Breville (ASX:BRG), Chorus (ASX:CNU), Hub24 (ASX:HUB), Sandfire Resources (ASX:SFR) and Tassal (ASX:TGR) go ex-dividend today.
Local trading ideas:
- Aerial imaging company Nearmap (ASX:NEA), had its buy rating upgraded by Citi with a new $3.15 price target.
- AMA (ASX:AMA) had its buy rating upgraded by Bell Potter, increasing its price target by 13% to $0.85, implying a gain of 25% from Friday’s close of $0.63
- Oklo Resources (ASX:OKU), Adriatic Metals (ASX:ADT) and Champion Iron (ASX:CIA) may be worth a look, as Trading Central’s data tells us their shares are giving off a bullish signal, indicating their shares may rise from Friday’s close.