Market wraps 14th July 2021
Morning Bell - Jessica Amir
The Aussie share market is set to open higher, with the futures suggesting the market will rise 0.06%.
What to watch today:
- NSW Premier Gladys Berejiklian is expected to announce an extension of Sydney’s lockdown. Yesterday the government announced that small and medium NSW businesses will be eligible for weekly cash payments of up to $10,000. Workers affected will receive $375 to $600 a week.
- Consumer confidence data for July will released today. This data is expected to be weak as lockdowns continue.
- The iron ore price rose up 0.4% to US$218, hitting a record all time high. The iron ore price has gained 40% this year, amid surging demand for steel from India.
- Flight Centre’s (ASX:FLT) shares rose 1.7%. That’s its biggest share price jump in seven days. It wasn’t enough to move FLT out of the range it’s been trading in since May – under the $16 mark. Most brokers think FLT will stay around these levels till restrictions ease.
- Adacel Technologies (ASX:ADA) was reiterated as a Bell Potter BUY with a $1.25 price target, implying 28% share price growth in a year.
- Ioneer (ASX:INR), NOVONIX (ASX:NVX) and Carbon Revolution (ASX:CBR) are all giving off bullish charting signals according to Trading Central.