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Market wraps 26th October 2020

Morning Bell - Jessica Amir

The Aussie share market is eyeing a gain of 0.3% following Wall Street’s positive close on Friday.

The focus this week will be on economic data, with economic growth data out for the U.S. and Australia for the third quarter.

In Australia, quarterly results this week are out for TPG (ASX:TPG), ANZ (ASX:ANZ), Janus Henderson (ASX:JHG) and ResMed (ASX:RMD).

Local trading ideas:

  • Bell Potter upgraded Mineral Resources (ASX:MIN) to a buy, increasing its price target to $28.50, implying 14% growth.
  • Bell Potter upgraded Insurance Australia Group (ASX:IAG) to a buy with a $5.60 target, implying 14.3% upside.
  • UBS reiterated Worley Parsons (ASX:WOR) as a buy with a $12.32 price target.
  • NRW Holdings (ASX:NWH), Charter Hall Group (ASX:CHC), JB Hi-Fi (ASX:JBH) are all showing bullish charting signals according to Trading Central.