Market wraps 25th June 2020
Morning Bell - Jessica Amir
The Aussie share market is eyeing a 1.6% fall at the open.
It’s the final countdown, just four trading days remains until the end of the financial year, so tax loss selling of those underperforming stocks is expected to continue.
What to watch today:
- CSL (ASX:CSL) announced it will buy an exclusive global license rights to commercialise an adeno-associated virus (AAV) gene therapy program.
- Qantas (ASX:QAN) entered into a trading halt pending capital-raising announcement.
- Oxygen companies and companies that will be needed with the second COVID-19 wave like Medical Developments International (ASX:MVP), small company ResApp (ASX:RAP) and ResMed (ASX:RMD).
Local Trading ideas:
- Select Harvest (ASX:SHV) is touted to possibly buy RFF’s Mooral almond orchard. Select Harvest was reiterated as Bell Potter buy.
- Sonic Healthcare (ASX:SHL) had it's EPS upgraded by 35% by Citi, with a fall expected next year. Bell Potter upgraded the stock to a buy, it’s also a buy for Citi.
- Qube (ASX:QUB) signed two leases with Woolies (ASX:WOW) in Moorebank. Qube’s balance sheet is very strong with cash of over $1 billion, Citi subsequently downgraded Qube from a buy to a hold.