Market wraps 2nd August 2021
Morning Bell - Jessica Amir
The Aussie share market is set to open higher, with the futures suggesting a 0.5% rise for the first day of trade in August.
What to watch today:
- US payment giant Square, will take over Afterpay (ASX:APT) for AU $39 billion. This values APT shares at $126.21, which is a 31% premium to Friday’s close at $96.66. The transaction is expected to be completed by Q1 2022.
- GUD Holdings (ASX:GUD) are set to report their earnings today.
- In economic news, the RBA meets tomorrow. Rates are expected to hold at 0.1%. The focus however, will be on bond buying.
- The iron ore price fell 0.7%, the copper price fell 1%, while the oil price fell slightly by 0.1%.
- Kingfish grower and seller Clean Seas Seafood (ASX:CSS) was reiterated as a Bell Potter Speculative BUY, with a price target of $0.80, implying 46% share price growth in a year.
- ARB (ASX:ARB), EROAD (ASX:ERD) and Cararvon Petroleum (ASX:CVN) are all giving off bullish charting signals, according to Trading Central.