Market wraps 25th November 2020
Morning Bell - Jessica Amir
The ASX200 is eyeing a lift of 0.6% at the open.
Oil gained 4% rising over US$45 for the first time since the pandemic hit in March.
What to watch today:
- Fisher & Paykel Healthcare (ASX:FPH) reports results today.
- Fletcher Building (ASX:FBU), Harvey Norman (ASX:HVN), IOOF (ASX:IFL), Kathmandu (ASX:KMD), Pro Medicus (ASX:PME), Shopping Centres Australia (ASX:SCP) and Synlait Milk (ASX:SML) hold their AGMs today.
- Construction numbers for the quarter are likely to remain negative with the market expecting a drop of 2%.
Local trading ideas:
- Financial software provider Praemium (ASX:PPS), was upgraded as a Bell Potter Buy with an increased target of $0.90, implying 36% upside in a year.
- Online learning and exam platform, Janison Education (ASX:JAN), was upgraded by Bell Potter to a Buy from a hold with a $0.45 price target, implying 20% upside in a year. Bell Potter says the company is well placed to deliver strong growth over the next 6-12 months.
- Nick Scali (ASX:NCK), Liontown Resources (ASX:LTR) and Challenger (ASX:CGF) are all showing bullish charting signals according to Trading Central.