Market wraps 28th April 2021
Morning Bell - Jessica Amir
The futures are suggesting a 0.24% gain today for the Aussie share market – moving past two days of selling.
What to watch today:
- The Aussie dollar has fallen ever so slightly from its three-year high – making our exports slightly cheaper.
- The iron ore price rose 0.8% overnight to an almost ten-year high. So in theory it should be a good day for iron ore majors, Fortescue Metals (ASX:FMG), BHP (ASX:BHP) and Rio Tinto (ASX:RIO).
- Our tech sector could end its three day downtrend today following better than expected results – with the US Tech sector notching its biggest revenue jump since 2018.
- Australia’s inflation numbers are out today.
- The most traded stocks from yesterday at Bell Direct: Dicker Data (ASX:DDR), CSL (ASX:CSL) & Fortescue Metals (ASX:FMG).
- GR Engineering (ASX:GNG) was upgraded as a Bell Potter Buy with a $1.50 price target after agreeing to buy an automation and technology engineering company.
- RMA Global (ASX:RMY) was reiterated as a speculative Bell Potter Buy with a $0.38 price target, implying 35% upside.
- BNK Banking (ASX:BBC), Aquis Entertainment (ASX:AQS) and Base Resources (ASX:BSE) are all giving off bullish charting signals according to Trading Central.