Market wraps 12th February 2021
Morning Bell - Jessica Amir
The ASX200 is eyeing a flat open.
Companies reporting results:
- Mirvac Group (ASX:MGR) reported a 36% drop in attributed half-year profit to $351.5 million.
- Arena REIT (ASX:ARF) reported its net profit rose 45%.
- Baby Bunting (ASX:BBN) reported its net profit rose 55% in the year but didn’t give future guidance amid COVID-19 uncertainty.
- Genworth Mortgage Insurance (ASX:GMA) results revealed an annual loss of $107.6 million and it declared it won’t pay a final dividend.
Yesterday’s top traded stocks:
- Zip (ASX:Z1P), Rent.com.au (ASX:RNT), Renascor Resources (ASX:RNU) and Fortescue Metals (ASX:FMG).
Local trading ideas:
- GrainCorp Ltd (ASX:GNC) was upgraded by Bell Potter following its better than expected trading update.
- AMP (ASX:AMP) was upgraded to a Bell Potter buy with a $2.25 price target.
- VRX Silica (ASX:VRX), Whispir (ASX:WSP) and Kathmandu Holdings (ASX:KMD) are giving off bullish charting signals according to Trading Central.