Market wraps 13th October 2021
Morning Bell - Jessica Amir
The Aussie share market is set to rise 0.2% and possibly erase yesterday’s fall of 0.26%.
What to watch today:
- The price of coal edged back closer to its record and nickel hit a one month high, while aluminium hit a 13-year high. Stocks to watch include coal companies Whitehaven Coal (ASX:WHC), Coronado (ASX:CRN), and New Hope (ASX:NHC), nickel stocks Western Areas (ASX:WSA), and Nickel Mines (ASX:NIC), and aluminium stocks Alumina (ASX:AWC), South32 (ASX:S32) and Rio Tinto (ASX:RIO).
- The iron ore price in China fell 4.5% to US$129 and oil set a new 7-year high rising over US$80 a barrel after jumping 1.5%.
- Commonwealth Bank (ASX:CBA) and Southern Cross Media (ASX:SXL) hold their AGMs today.
- Gowing Bros (ASX:GOW) goes ex-dividend today and EQUINOX (ASX:EQN) is due to list today.
- Bell Potter reiterated their BUY rating on Life360 (ASX:360) with a $10.75 price target, implying 23% share price growth in a year.
- Citi downgraded Zip (ASX:Z1P) from a BUY to a HOLD on the back of lower customer growth in the US and has decreased its price target to $7.40.
- Bullish charting signals have been identified in Splitit (ASX:SPT), Damstra (ASX:DTC) and CleanSpace Holdings (ASX:CSX), according to Trading Central.