Market wraps 13th April 2021

Morning Bell - Jessica Amir

Vaccine talks will dominate local headlines today for two reasons - the Federal government has taken the J&J vaccine off the table and ScoMo has said that Aussies will likely not receive a vaccine by the end of year.

This means travel and tourism stocks will be back in focus, in particular Qantas (ASX:QAN), as the company planned to initially resume international flights in October as Australians were initially set to be vaccinated by then.

What to watch today:  

  • The Aussie market is expected to rise 0.2% if the futures are correct.
  • New home sales and business confidence data out today.
  • Keep an eye on the most traded stocks from yesterday. For our active trader desk, Bell Direct Advantage they were: Delorean (ASX:DEL) which listed on the ASX on Monday, and Digital Wine Ventures (ASX:DW8).

Trading ideas:

  • The a2Milk Company (ASX:A2M) was upgraded from a Hold to a Buy with an increased price target of $9.50 as China distribution is showing strong signs of early life.
  • Macquarie rated Dexus (ASX:DXS) as a Buy with a $10.33 target and an estimated dividend yield of 4.53%.
  • Galan Lithium (ASX:GLN), Mach7 Technologies (ASX:M7T), People Infrastructure (ASX:PPE) are all giving off bullish charting signals according to Trading Central.