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Morning Bell 10 June

Bell Direct
June 10, 2021

The Aussie share market is set to open lower, with the futures suggesting the market will fall 0.04% to 7,272 points.

Investors are cautious pending the release of the US Inflation report for May, which will be released tonight 10:30pm AEST.

What to watch today:

  • Australia’s Consumer Inflation Expectations will be released at 11am this morning.
  • Watch Brickworks (ASX:BKW), after they just hit a record high at $23.54. The company announced they expect record earnings of $100 million from a Joint Venture Industrial Property Trust.
  • Keep an eye on travel stocks as Melbourne’s restrictions are set to ease from midnight tonight.
  • The oil price is down 0.4%, gold is down 0.2% and copper is down 0.6%, while iron ore is trading 1.1% higher.
  • The most traded stocks by Bell Direct clients yesterday were: Iluka Resources (ASX:ILU), Fortescue Metals (ASX:FMG) and Australia and New Zealand Bank (ASX:ANZ).

Trading ideas:

  • Bell Potter have maintained their BUY recommendation on Coronado Global Resources (ASX:CRN), with a $1.10 price target (previously $0.95).
  • Bell Potter have maintained their BUY recommendation on Whitehaven Coal (ASX:WHC) with an increased price target of $2.40 (previously $2.25).
  • Bell Potter also have a BUY recommendation on Doctor Care Anywhere (ASX:DOC). They have lowered their price target on DOC from $1.95 to $1.70.
  • Consistent with Bell Potter, Trading Central are also bullish on Whitehaven Coal (ASX:WHC). Lynas Rare Earths (ASX:LYC) and Marley Spoon (ASX:MMM), are also giving off bullish charting signals according to Trading Central.

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