Market wraps 3rd May 2021
Morning Bell - Jessica Amir
The Aussie share market is set to open lower with the futures suggesting a 0.1% slip. It’s a big week for economic news with banks set to report earnings results.
What to watch today:
- Westpac (ASX:WBC) reported their half year results this morning with statutory net profit of $3.4 billion.
- ANZ Bank (ASX:ANZ) reports on Wednesday and National Australia Bank (ASX:NAB) reports on Thursday.
- Commonwealth Bank (ASX:CBA) to provide quarterly update the following week.
- Watch earnings results from Amcor (ASX:AMC) and Pendal (ASX:PDL) this week.
- AGMs to be held for QBE Insurance (ASX:QBE), Rio Tinto (ASX:RIO) and Goodman Group (ASX:GMG).
- Commodity stocks are likely to see activity today: Oil price fell 2% on the weekend, and the Iron Ore price is up 0.2% overnight, its highest level in almost 10 years.
- Most traded stocks from Bell Direct on Friday: Sydney Airport (ASX:SYD), Qantas (ASX:QAN) and Flight Centre (ASX:FLT). Advised clients traded Magellan Global Fund (ASX:MGF).
- Bubs Australia Ltd (ASX:BUB) is a speculative Bell Potter HOLD, trading at a year low and on a downtrend.
- Pointsbet (ASX:PBH), Super Retail Group (ASX;SUL) and Enero Group (ASX:EGG) are all giving off bullish charting signals according to Trading Central.