Market wraps 5th May 2021
Morning Bell - Jessica Amir
The Aussie share market is set to pull back 0.4% at the open if you go by the futures, with Tech stocks likely to pull back the most.
What to watch today:
- Australia and New Zealand Bank (ASX:ANZ) reported results, with shares likely to lift 0.6%. ANZ half year profits rose 45% to $2.9 billion, supported by an improving economic outlook and an increase in loans.
- The UK Government are planning on easing COVID- 19 restrictions on the 17th of May. Keep an eye on ASX stocks operating in the UK, including Virgin Money (ASX:VUK), which is trading 55% higher this year and is the ASX200’s best performer in 2021.
- Amcor PLC (ASX:AMC) and Irongate (ASX:IAP) are due to report results today.
- Bank of Queensland (ASX:BOQ) to go ex- dividend today.
- Building permits for March are out today with expectations that this they will rise 3%, following the 22% lift in February. Keep an eye on building construction companies like Fletcher (ASX:FBU), CSR Limited (ASX:CSR), Brickworks (ASX:BKW) and Boral (ASX:BLD).
- The most traded stocks from Bell Direct yesterday: Dexus (ASX:DXS), Afterpay (ASX:APT) and BHP (ASX:BHP).
- Flight Centre (ASX:FLT) was reiterated as a Bell Potter Buy, albeit with a slimmer $20 price target, that implies 24% upside
- Graincorp (ASX:GNC), Capral (ASX:CAA) and West African Resources (ASX:WAF) are all giving off bullish charting signals according to Trading Central.