Market wraps 12th October 2020
Morning Bell - Jessica Amir
Last week the Aussie share market had a cracking week, closing 5.4% higher, its best weekly gain since April. Today the Aussie futures are suggesting a fall of 0.1% at the open.
U.S. equities saw their best weekly gain since July with the NASDAQ and S&P500 closing higher.
What to watch today:
- Diggers and Dealers, a mining forum kicks off today with 164 companies presenting.
- Energy stocks closed 9% higher last week, the best week since early April.
- Frontier Digital Ventures (ASX:FDV) goes ex-dividend today and Opthea (ASX:OPT) holds its AGM.
Local trading ideas:
- Liontown Resources (ASX:LTR) was upgraded by Bell Potter as a speculative buy with an increased target of $0.32.
- Citi has upgraded Newcrest Mining (ASX:NCM) to a buy with a $37 target, as its second stage NSW Cadia project has been approved.
- Silver Lake Resources (ASX:SLR), Musgrave Minerals (ASX:MGV) and Auswide Bank (ASX:ABA) are all showing bullish charting signals according to Trading Central.