Desktop Broker TV

Market wraps 20th May 2020

Morning Bell - Jessica Amir

Aussie equities yesterday popped to a 6-week high after gaining 1.8%, which saw the ASX200 settle 22% up from its March low. But today it looks like some of those profits will be trimmed as Aussie futures suggest a 1.5% fall at the open.

It comes as US shares fell into the red in the final hour of trade on the back of news reports that raised concerns about a potential COVID-19 vaccine from Moderna.

A trading idea for today, Bell Potter reiterated Avita Medical (ASX:AVH) as a speculative BUY, with a price target of $0.81, implying a 78% share price growth in a year from yesterday’s close of $0.455. 

Investors will be watching BHP (ASX:BHP), Fortescue Metals group (ASX:FMG), Rio Tinto (ASX:RIO), Sydney Airport (ASX:SYD) & Australian Agricultural Co (ASX:AAC). 

In today's morning bell, Jessica covers:

  • Local Markets - (0:02)
  • Corporate News - (0:35)
  • Global Markets - (1:12)

What to watch:

  • Australia's iron ore majors - (1:50)
  • Sydney Airport (ASX:SYD) - (2:16)
  • Australian Agricultural Co (ASX:AAC) - (2:27)
  • Bell Potter trading idea: Avita Medical (ASX:AVH) - (2:59)