Market wraps 18th May 2021
Morning Bell - Jessica Amir
The Aussie share market is set to open higher, the futures suggesting a 0.2% gain.
End of financial year adjustments continue to take place, as investors are moving out of tech and into banking and mining.
What to watch today:
- The Oil price rose 1%, Gold rose 1.3% and Copper gained 1.3%, while Iron Ore rebounded 2.3%. Watch Aeris Resources (ASX:AIS), BCI Minerals (ASX:BCI) and Zeta Resources (ASX:ZER).
- James Hardie (ASX:JHX) is set to report company results today.
- RBA meeting minutes to be released today.
- The most traded stocks yesterday: Commonwealth Bank (ASX:CBA), Macquarie Group (ASX:MQG), and Afterpay (ASX:APT).
- Incitec Pivot (ASX:IPL) was upgraded by Citi to a BUY with an increased price target of $2.90.
- Agriculture and real estate group Elders (ASX:ELD), was upgraded by Citi and Bell Potter. Citi’s 12 month target for (ASX:ELD) is $13.40 and Bell Potter’s new target for (ASX:ELD) is more bullish at $13.75.
- Westgold Resources (ASX:WGX), BWX (ASX:BWX) and Primewest Group (ASX:PWG) are all giving off bullish charting signals according to Trading Central.