Morning Bell 8 July

Between the Bells

Between the Bells
Morning Bell 8 July
Jul 08, 2021
Bell Direct

The Aussie share market is set to open higher, with the futures suggesting a modest lift of 0.2% or 11 points. 

What to watch today: 

  • The NSW Treasury estimates that Sydney’s three week lockdown will cost the NSW economy $2.5 billion, with hospitality hit the hardest. Long term investors could take advantage of stocks pulling back as a result. Watch Endeavour Group (ASX:EDV). 
  • The RBA Governor will give a speech on the labour market and interest rates today at 12:30pm AEST. 
  • The oil price (WTI) briefly hit a new six year high before pulling back to US$72.00. 
  • The iron ore price rose 0.2% to US$214.00. 

Trading Ideas: 

  • Speciality chemical business DGL Group (ASX:DGL) was reiterated as a Bell Potter BUY with an increased price target of $1.65, implying 18% share price growth in a year. DGL was listed this year on the ASX. 
  • Medadviser (ASX:MDR), Ingenia (ASX:INA) and Altium (ASX:ALU) are all giving off bullish charting signals according to Trading Central.