Market wraps 11th May 2020
Morning Bell - Jessica Amir
A very busy week is on the cards for Aussie investors this week, awaiting local business and consumer confidence, and unemployment numbers for April.
Kicking the week off, the Australian share market futures are eyeing a lift of 0.1% at the open. It comes as global markets pushed higher on Friday as the US unemployment numbers were better than economists expected with 20.5 million Americans losing their jobs last month, which was bleak but far better than the 21.5 million forecast.
Trading ideas for today, AMP's (ASX:AMP) price target was lifted to $2.15 by Bell Potter, implying its shares will grow over 50%. Elders (ASX:ELD) was also raised by Bell Potter to a price target of $10.30, implying its shares will grow by 13%.
Investors will be watching GrainCorp (ASX:GNC), Pendal Group (ASX:PDL) and CIMIC (ASX:CIM).