Market wraps 19th February 2021
Morning Bell - Jessica Amir
The Aussie share market could close over 1% higher this week, and hopefully erase last week’s fall.
What to watch today:
- Australia’s biggest industrial and logistics property group Goodman Group (ASX:GMG) reported a 29% jump in profit to $1 billion in the half-year, almost double what the market expected.
- Cochlear’s (ASX:COH) half-year profit rose 50% to $236.2m, despite the pandemic, while the market was only looking for profit of $64.4m.
- Jewellery chain Lovisa (ASX:LOV) reported a half-year profit after tax of $21.5m, that’s a fall of 23%. But LOV’s profit is stronger than the $18.1m the market expected.
- Other companies reporting include: Cleanaway (ASX:CWY), Inghams (ASX:ING), Medical Developments International (ASX:MVP), Pact Group Holdings (ASX:PGH), QBE Insurance (ASX:QBE) and Smartgroup Corporation (ASX:SIQ).
- Preliminary retail sales are out today – expected to show a 2.1% rise.
- IPH Limited (ASX:IPH) was upgraded by Bell Potter with a new $8.15 price target following improved earnings in Asia.
- Santos (ASX:STO) had its Buy rating upgraded by UBS with a new $7.90.
- Veem (ASX:VEE), Andromeda Metals (ASX:ADN) and Dicker Data (ASX:DDR) are all giving off bullish charting signals according to Trading Central.