Market wraps 27th May 2021
Morning Bell - Paulina Peters
All three US benchmarks rose slightly overnight following US shares linked to the economic reopening lifting.
The Aussie share market is set to follow Wall Street’s lead with the futures suggesting the market will lift 0.04% to 7,093.
What to watch:
- Private Capital Expenditure data will be released today at 11:30am.
- Fisher & Paykel Healthcare (ASX:FPH) released its full year results this morning with net profit up 82%.
- AGMs today include Spark Infrastructure (ASX:SKI), Costa Group Holdings (ASX:CGC), Coronado Global Resources (ASX:CRN).
- The most traded stocks by Bell Direct clients yesterday were PPK Group (ASX:PPK), Kogan (ASX:KGN) and Imugene (ASX:IMU).
- The Oil price lifted slightly, about 0.05% off the back of stronger demand outlook as US inventories fell, while the Gold price eased below US$1,900 following a rebounding dollar and US Treasury Yields dimming its appeal. And Silver is trading down 1%.
- Bell Potter have maintained their BUY recommendation on media company, IVE Group (ASX:IGL), with a price target of $1.70.
- Bell Potter have also maintained their BUY recommendation on intellectual property company QANTM IP (ASX:QIP) with a price target of $1.55, implying about 44% share price growth.
- Adairs (ASX:ADH), Hazer Group (ASX:HZR) and Noxopharm (ASX:NOX) are all giving off bullish charting signals according to Trading Central.