Market wraps 26th April 2021
Morning Bell - Jessica Amir
The Aussie share market is set to open higher with the futures suggesting a 0.1% lift. Tech and airline stocks will be in focus today.
What to watch:
- The Aussie tech sector is up 10% this month, Industrials is 6% and Materials is up 7.2%.
- Iron ore price continued to increase 0.4% overnight chasing down a new 10-year high. Watch Fortescue Metals Group (ASX:FMG), Magnetite Mines (ASX:MGT) and Mineral Resources (ASX:MIN) today.
- Platinum futures are up 2%, and Palladium futures are up 0.5%. Copper trades lower.
- The Oil price is 0.1% higher at US$62.22, with futures 1% higher.
- Westpac (ASX:WBC) has announced its half year profit will be $282 million accounting for litigation costs and software write-downs, as well as IOOF separation expenses.
- NIB Holdings (ASX:NIB) has announced its underlying profit for the 2021 financial year to be much stronger than a year prior.
- The most traded stocks from Bell Direct on Friday: Vanguard Msci Index International Shares ETF (ASX:VGS), Vanguard US Total Market Shares Index ETF (ASX: VTS) and Vanguard Australian Share ETF (ASX:VAS).
- Accent Group (ASX:AX1) was upgraded as a Bell Potter Buy stock with a $3.30 price target, implying 14% upside.
- Fortescue Metals Group (ASX:FMG) was upgraded to a Buy from a Hold by Bell Potter with an increased $23.85 price target.
- Youfoodz Holdings (ASX:YFZ) remains a Bell Potter Buy, with a lower $1.10 price target.
- Weebit Nano (ASX:WBT), Gelena Mining (ASX:G1A) and Emeco Holdings (ASX:EHL) are all giving off bullish charting signals according to Trading Central.