Morning Bell 11 June

Between the Bells

Between the Bells
Morning Bell 11 June
Jun 11, 2021
Bell Direct

The Aussie share market is set to open higher, with the futures suggesting the market will rise 0.1%. 

 

All three US indices rose overnight, despite an inflationary reading that saw consumer prices rise more than expected. 

 

What to watch today: 

  • Food and beverage companies will be in focus, as Victoria ended its lockdown overnight and hospitality ventures reopen. Watch Wesfarmers (ASX:WES) and Coles (ASX:COL). 
  • Australia and Singapore could start a travel bubble if more Australians are vaccinated and transmissions fall. Watch travel stocks including Flight Centre (ASX:FLT), Qantas (ASX:QAN), Webjet (ASX:WEB) and Adacel (ASX:ADA). 
  • Demand for iron ore is surging. The iron ore price could rise from its current level at US$214 to US$300. Keep an eye on iron ore stocks. 

 

Trading Ideas: 

  • Citi has a Buy recommendation on Zip (ASX:Z1P) with a $10.90 price target. 
  • Adriatic Metals (ASX:ADT), Nitro Software (ASX:NTO) and Shopping Centres Australasia Property Group (ASX:SCP) are all giving off bullish charting signals according to Trading Central.