Market wraps 11th March 2021
Morning Bell - Jessica Amir - Jessica Amir
The futures are suggesting the market will open 0.5% higher – with the focus on travel stocks and banks.
What to watch today:
- Travel and tourism stocks will be in focus as the Federal Government will pay half price airfares for 800,000 Aussie visiting 13 regional areas from April 1 to July 31.
- Keep an eye on travel stocks in bullish short breakouts like Webjet (ASX:WEB), Flight Centre (ASX:FLT), Qantas (ASX:QAN) and Corporate Travel Management (ASX:CTD).
- Banks will also be in focus – with the Federal Government expected to expand its SME loan program offering interest free loans for up to $5 million over 10-years, 80% government backed.
- Keep an eye on banks stocks in share price breakouts: ANZ (ASX:ANZ), Auswide Bank (ASX:ABA), Macquarie Group (ASX:MQG).
- Keep an eye on iron ore stocks as the spot iron ore price continued to fall, losing 5% - after a Chinese city was ordered to halt steel production to limit pollution.
- Janus Henderson (ASX:JHG) and Link (ASX:LNK) are two of Citi’s favourite Buys in the non-banking financial space. Both are continuing to benefit from growing earnings.
- FYI Resources (ASX:FYI), TPG Telecom (ASX:TPG) and BSA Limited (ASX:BSA) are giving off bullish charting signals according to Trading Central.