Market wraps 9th February 2021

Morning Bell - Jessica Amir

The ASX200 is eyeing a fall of 0.2% at the open ahead of some property businesses reporting results on the effect of reduced rent and vacancies due to COVID-19.

Keep an eye on some of the most traded stocks from yesterday:

  • Zip (ASX:Z1P) rose 13% and is suggested to rally again. Rent.com.au (ASX:RNT) gained 24% yesterday and early orders suggest another rally could be on the cards. Flexiroam (ASX:FRX) rose 95% yesterday.

Companies reporting today:

  • Dexus (ASX:DXS), Shopping Centres Australasia (ASX:SCP), James Hardie (ASX:JHX), Boral (ASX:BLD), Emeco (ASX:EHL), Challenger (ASX:CGF) and Suncorp (ASX:SUN).

Local trading ideas:

  • IMDEX (ASX:IMD) was upgraded by Bell Potter following its better than expected earnings results handed down yesterday. IMD is a Bell Potter buy with an increased price target of $2.20.
  • Citi reiterated Elders (ASX:ELD) as a buy with a $13 target.
  • Super Retail Group (ASX:SUL), BSA (ASX:BSA) and Andromeda Metals (ASX:AND) are giving off bullish charting signals according to Trading Central.