Morning Bell 6 April

Between the Bells

Between the Bells
Morning Bell 6 April
Apr 06, 2021
Bell Direct

The Aussie market is eyeing a gain of 0.3% if you go by the futures - likely to extend its rally from Wednesday and Thursday – which will form a nice uptrend for the ASX200. 

 

What to watch today:

  1. Economic recovery stocks – expected to gain momentum as GP clinics offering COVID-19 vaccines will double to 3,000 by this week with 4,000 clinics offering the vaccine by the end of April. 
  2. Economic news to watch: ANZ job ads out for March and the RBA hold their first meeting of the month - rates to hold but the focus will on Australia’s economic recovery. 
  3. Stocks that will do well following the trans-Tasman bubble announced later today. Keep an eye on Air New Zealand (ASX:AIZ) and Qantas (ASX:QAN).
  4. ASX stocks exposed to the UK – and could benefit as the UK considers a vaccine passport. These include Link Administration (ASX:LNK) and UK Bank Virgin Money (ASX:VUK). 
  5. Oil stocks will likely come under pressure after the Oil price fell 6% ahead of OPEC and its ally countries ramping up production from May to July.
  6. Companies going ex-div today: Sigma Healthcare (ASX:SIG) and Perpetual Equity Investment Company (ASX:PIC). 
  7. Most traded stocks at our active trader desk, Bell Direct Advantage: 88 Energy (ASX:88E), Red Sky Energy (ASX:ROG) & Brookside Energy (ASX:BRK).

 

Trading ideas:

  • UBS upgraded South32 (ASX:S32) as a Buy while upping its price target to $3.20. 
  • Bell Potter called out its key retail sales stocks to watch: City Chic (ASX:CCX), Dominos (ASX:DMP) and Accent (ASX:AX1). 
  • Australian Finance Group (ASX:AFG), Sezzle (ASX:SZL) and Pinnacle Investment Management (ASX:PNI) are all giving off bullish charting signals according to Trading Central.