Market wraps 22nd July 2021
Morning Bell - Jessica Amir
This morning the futures are suggesting the Aussie share market will rise 0.9%.
What to watch today:
- It’s confirmed that Brisbane will host the Olympics in 2032. This means infrastructure will be built over the next 11 years to cater for the Olympic Games. Investors should watch engineering stocks such as Cimic (ASX:CIM) and Downer (ASX:DOW). Also watch construction stocks including Brickworks (ASX:BKW), Adelaide Brighton (ABC) and Boral (ASX:BLD).
- The oil price jumped 4% overnight, trading above US$70 – and likely to push higher.
- The iron ore price fell 0.5%, copper rose 0.4% and the coal price eased from its decade high, falling 1.3%.
- Beach Energy (ASX:BPT) was upgraded by Bell Potter with a new $1.85 price target, implying 52% share price growth in a year. BPT is a BUY stock for Bell Potter, Macquarie and Credit Suisse.
- James Hardie (ASX:JHX), Redbubble (ASX:RBL) and Coda Minerals (ASX:COD) are all giving off bullish charting signals, according to Trading Central.