BPO TV

Market wraps 4th November 2020

Morning Bell - Jessica Amir

The Aussie share market is eyeing a gain of 0.1% at the open.

U.S. equities rallied for the second straight day, continuing to claw back from last week’s retreat which was the worst weekly fall since March.

What to watch today:
- China has allegedly put a temporary ban on Australian coal, copper-ore, wheat, wool, lobster and sugar imports into China from Friday.
- Woolworths (ASX:WOW) announced quarterly group sales rose 12% to $17.9b, with food sales up 13% as customers consumed more at home.
- Pendal (ASX:PDL) half year results are out today.
- Domino’s Pizza Enterprises (ASX:DMP) and Cedar Woods Properties (ASX:CWP) hold their AGMs today.

Local trading ideas:
- UBS reiterated the owner of IGA, Metcash (ASX:MTS), as a Buy, with a $3.25 price target.
- Bell Potter reiterated Kazia Therapeutics (ASX:KZA) as a Speculative Buy with a $2.00 target, implying 153% upside in a year.
- Bell Potter upgraded Auswide Bank’s (ASX:ABA) Buy rating and price target to $5.70, implying 14% upside in a year.
- Breville (ASX:BRG), Chalice Gold Mines (ASX:CHN) and IGO (ASX:IGO) are all showing bullish charting signals according to Trading Central.