Market wraps 6th April 2021
Morning Bell - Jessica Amir
The Aussie market is eyeing a gain of 0.3% if you go by the futures - likely to extend its rally from Wednesday and Thursday – which will form a nice uptrend for the ASX200.
What to watch today:
- Economic recovery stocks – expected to gain momentum as GP clinics offering COVID-19 vaccines will double to 3,000 by this week with 4,000 clinics offering the vaccine by the end of April.
- Economic news to watch: ANZ job ads out for March and the RBA hold their first meeting of the month - rates to hold but the focus will on Australia’s economic recovery.
- Stocks that will do well following the trans-Tasman bubble announced later today. Keep an eye on Air New Zealand (ASX:AIZ) and Qantas (ASX:QAN).
- ASX stocks exposed to the UK – and could benefit as the UK considers a vaccine passport. These include Link Administration (ASX:LNK) and UK Bank Virgin Money (ASX:VUK).
- Oil stocks will likely come under pressure after the Oil price fell 6% ahead of OPEC and its ally countries ramping up production from May to July.
- Companies going ex-div today: Sigma Healthcare (ASX:SIG) and Perpetual Equity Investment Company (ASX:PIC).
- Most traded stocks at our active trader desk, Bell Direct Advantage: 88 Energy (ASX:88E), Red Sky Energy (ASX:ROG) & Brookside Energy (ASX:BRK).
- UBS upgraded South32 (ASX:S32) as a Buy while upping its price target to $3.20.
- Bell Potter called out its key retail sales stocks to watch: City Chic (ASX:CCX), Dominos (ASX:DMP) and Accent (ASX:AX1).
- Australian Finance Group (ASX:AFG), Sezzle (ASX:SZL) and Pinnacle Investment Management (ASX:PNI) are all giving off bullish charting signals according to Trading Central.