Market wraps 11th June 2021
Morning Bell - Jessica Amir
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.
- 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.