Market wraps 9th March 2021
Morning Bell - Jessica Amir
The Aussie share market is expected to lift 0.7% if the futures are correct with the focus to be on commodity and cyclicals stocks.
What to watch today:
- DDH1 (ASX:DDH) is expected to float on the ASX today at 1pm, the second biggest IPO this year.
- Lithium major and UBS buy, Galaxy Resources (ASX:GXY) is set to bounce after releasing its Preliminary Economic Assessment for its Quebec project in Canada. This allows Galaxy to advance the project straight into engineering phase.
- Resilient iron ore stocks could see a rally as the iron ore price rose 0.3% to US$173
- Oil stocks are likely to take a breather as the oil price fell over 2% overnight to US$64.
- Gold slumped to a new nine month low losing 1.2%.
Economic news this week:
- Business confidence figures are released today
- New home sales data for Feb is out
- Calix (ASX:CXL) was given a big upgrade by Bell Potter overnight with a new $2.94 target.
- Praemium (ASX:PPS), Lovisa (ASX:LOV) and Humm (ASX:HUM) are giving off bullish charting signals according to Trading Central.