Market wraps 15th June 2020
Morning Bell - Jessica Amir
The Aussie share market is eyeing a lift of 0.4% at the open following commodities rallying on Friday.
The Australia Prime Minister is expected to outline details of the Government's JobMaker plan, as well as increased spending on infrastructure projects including the expansion of BHP’s Olympic Dam in South Australia.
Investors will be watching Healius (ASX:HLS) and Select Harvest (ASX:SHV).
- Citi estimates there is a 85% downturn of global share markets, suggesting there will be more bad news to come. So in this instance, you might like to consider looking at short ETFs to hedge your portfolio. You could consider (ASX:BEAR), (ASX:BBOZ) and (ASX:BBUS).
- UBS has given Seven Group Holding (ASX:SVH) a price target of $19, expecting a 9.5% rise from Friday's close of $17.35. Macquarie increased its target to $19.10 and Credit Suisse increased its target to $20.35.
- Macquarie increased Santos' (ASX:STO) price target to $6.05.