Market wraps 13th October 2020
Morning Bell - Jessica Amir
Another positive day is on the cards for the Aussie share market, with the ASX200 set to lift 0.8%.
Overnight in the U.S., optimism was high ahead of third quarter earnings being released with JPMorgan Chase and Delta Air reporting as early as tomorrow. Sentiment is also high on hopes of a stimulus package being inked, which will provide individuals with $1,200 of pocket money.
What to watch today:
- The oil price fell 3% to US$39.53 as U.S. production began to be restored after being shut off after Hurricane Delta.
- Gold slipped from its three-week high and trades at US$1,927.
- Iron ore fell 1.2% to US$124.
- AGM season ramps up locally, with CBA (ASX:CBA), Telstra (ASX:TSL) and EBOS Group (ASX:EBO) holding theirs today.
- UBS increased Bapcor’s (ASX:BAP) price target to $8.55. Citi also reiterated the car part accessory business Bapcor as a Buy with a revved up $8.80 target.
- Ahead of ANZ reporting financial year results in two weeks, Bell Potter upgraded the big four bank with a $20.50 target, and reiterated its Buy rating.
- Alliance Aviation Services (ASX:AQZ), Emvision Medical Devices (ASX:EMV) and Catapult Group (ASX:CAT) are all showing bullish charting signals - according to Trading Central.