Market wraps 18th June 2021
Morning Bell - Jessica Amir
Overnight US tech stocks claimed back some lost territory following a two day sell off.
This morning the Aussie share market is eyeing a positive day, with the futures suggesting a 0.5% lift, which means the market is on track for its 6th weekly gain.
What to watch today:
- Traders and investors continue to readjust their portfolios with 9 more trading days until the EOFY.
- Today tech stocks will likely rally higher following the Nasdaq’s 0.9% gain overnight.
- Altium (ASX:ALU) provided a trading update and reiterated its FY21 guidance. Bell Potter have a HOLD recommendation on ALU, with a $37.50 price target.
- Sydney Airport (ASX:SYD) provided a Traffic update for May, noting 1.4 million passengers passed through its airport. Morgan Stanley reiterated (ASX:SYD) as a BUY stock yesterday.
- The oil price fell slightly from its multi-year high, trading at US$71.00.
- The iron ore price eased 2.3% lower from its record high and now trades at US$217.00.
- The most traded stocks by Bell Direct clients yesterday: BrainChip (ASX:BRN) and Nuix (ASX:NXL).
- Cluey (ASX:CLU) was reiterated as a Bell Potter Speculative BUY with a $1.70 target, expecting 76% share price growth in a year.
- Money3 Corporation (ASX:MNY) was initiated as a Bell Potter BUY with a $3.70 target.
- Lake Resources (ASX:LKE), Bigtincan (ASX:BTH) and Polynovo (ASX:PNV) are all giving off bullish charting signals according to Trading Central.