Market wraps 6th May 2021

Morning Bell - Paulina Peters

Aussie share market set to open higher following US equities strong earnings results, with the futures suggesting 0.07% lift.

What to watch today:

  • National Australia Bank (ASX:NAB) reported its H12021 results today. It reported cash earnings of $3.343 billion, which is 35.1% higher compared with H12020.
  • Vehicle mobility solutions business Eclipx Group (ASX:ECX) to report today.
  • The Oil price dipped despite declining inventory, the Gold price lifted following a retreat in the US dollar, and iron ore continues to trade at a record high.
  • AGMs today include Genworth Mortgage (ASX:GMA), Iress (ASX:IRE) and TPG Telecom (ASX:TPG).
  • The most traded stocks by Bell Direct clients yesterday: Australia and New Zealand (ASX:ANZ), Afterpay (ASX:APT) and Flight Centre (ASX:FLT).

Trading ideas:

  • One of the world’s largest producers of high-quality metallurgical coal, Coronado Global Resources (ASX:CRN) had its BUY rating reiterated by Bell Potter.
  • City Chic Collective (ASX:CCX) also maintains its BUY rating, with an increased price target of $4.90.
  • South32 (ASX:S32), Worley (WOR) and Tesserent (ASX:TNT) are all showing bullish charting signals according to Trading Central.