Market wraps 19th May 2021
Morning Bell - Jessica Amir
The Aussie share market is set to open 1.1% lower, following Wall Street overnight.
The Australia government pushes for reusable, recyclable and compostable plastics.
What to watch today:
- Resolute Mining (ASX:RSG) is the best performer in the ASX200 this month, up 29%.
- Watch iron ore as China plans to set up exploration and production facilities. Iron ore stocks have been trading at a record high. Watch Fortescue Metals (ASX:FMG), Mineral Resources (ASX:MIN), Magnetite Mines (ASX:MGT), Aeris Resources (ASX:AIS) and BCI Minerals (ASX:BCI).
- The Federal Government greenlighted a $600 million Gas fired power station to be built in the NSW Hunter Valley, so keep an eye on AGL Energy (ASX:AGL).
- The Australian Government wants all plastics to be reusable, recyclable or compostable by 2025. So keep an eye on packing stocks like Amcor PLC (ASX:AMC), Orora (ASX:ORA), Pact Group Holdings (ASX:PGH) and Pro- pac Packaging (ASX:PPG).
- US President Joe Biden is pushing for electric-vehicle production. A $174 billion EV plan is urging automakers to build zero-emission vehicles in the US.
- Webjet (ASX:WEB) to report company results today.
- AGMs being held today: A.P. Eagers Limited (ASX:APE) and G8 Education (ASX:GEM).
- In economic news, consumer confidence will be released at 11:30am AEST.
- The most traded stocks yesterday: Nuix (ASX:NXL), Kincore Copper (ASX:KCC) and Macquarie Group (ASX:MQG).
- Bell Potter have upgraded their recommendation on Lovisa Holdings (ASX:LOV) to a BUY, with a $15.50 price target.
- Medusa Mining (ASX:MML), Virgin Money (ASX:VUK), and Empired (ASX:EPD) are all giving off bullish charting signals according to Trading Central.