Market wraps 14th January 2021
Morning Bell - Jessica Amir
The ASX200 is eyeing a lift of 0.1% at the open following Wall Street closing mostly higher ahead of the US House impeaching President Donald Trump for a second time.
What to watch today:
- Building permit numbers are out today with building approvals tipped to have risen 2.6% in November, following the 3.8% lift in October supported by the record low interest rate.
- Rio Tinto (ASX:RIO) inked a new electricity contract with NZ power supplier Meridian Energy (ASX:MEZ) to keep Rio’s aluminium smelter operating until the end of 2024.
- Abacus Property Group (ASX:ABP) goes ex-dividend.
Local trading ideas:
- Morgan Stanley upgraded footwear business Accent Group (ASX:AX1), increasing its price target to $2.60, noting sales momentum should continue but will likely normalise by FY22.
- Audinate (ASX:AD8) was reiterated as a UBS buy with an $8 price target.
- Beach Energy (ASX:BPT), Uniti Group (ASX:UWL) and BetMakers Technology Group (ASX:BET) are giving off strong bullish charting signals according to Trading Central.