Market wraps 4th February 2021
Morning Bell - Jessica Amir
The ASX200 is eyeing a fall of 0.3% at the open following the market rising to its highest level in almost 12 months.
US equities charged for the third straight day, driven by better than expected company news and earnings results.
What to watch today:
- Investors will be weighing up that Victoria’s plan for the return to work to be at 75% capacity on Monday has been paused.
- Companies reporting: Nick Scali (ASX:NCK), Centuria Office REIT (ASX:COF) and Janus Henderson Group (ASX:JHG).
- Balance of trade (import and export) numbers for December will be released today at 11:30am.
Local trading ideas:
- Tech-air traffic control company, Adacel Technologies (ASX:ADA) was reiterated as a buy by Bell Potter, with a $1.15 target noting that there is a reasonable chance that Adacel will upgrade its FY21 guidance when it reports on the 18th of February.
- Fortescue Metals (ASX:FMG) was upgraded from a hold to a buy by Credit Suisse with a $23.50 target.
- Premier Investment (ASX:PMV), Chesser Resources (ASX:CHZ) and Whisper (ASX:WSP) are giving off bullish charting signals according to Trading Central.