share price

After reporting a profit surge this morning, ANZ's share price has dropped more than 4 percent.

The New Zealand arm's net profit for the year to September was almost 2.3 billion dollars - a rise of 20 percent on the previous year.

And during the cost of living crisis, it's made a cash profit of more than two billion - up 8 percent on the previous financial year.

Chief executive, Antonia Watson, says she's surprised the share price dipped after such a strong result.

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The Aussie share market lifted 0.4% this week (Mon-Thu), with tech shares outperforming. Reporting season will be in full swing next week, with a number of well-known companies reporting to the ASX. 
 
 In this week’s wrap, Sophia covers:

• (0:35) Five external factors that will impact company earnings
• (1:22) Bell Potter and Citi's forecasts for next week's company results
• (2:53) Tech shares soaring after strong US earnings reports
• (4:25) The most traded stocks & ETFs by Bell Direct clients
• (5:08) Three economic news items to watch out for

The Aussie share market advanced 1.5% this week (Mon-Thu), with the materials sector leading the way. Reporting season also kicked off with some key companies releasing their results. 
 
 In this week’s wrap, Sophia covers: 

• (0:34) What to consider this reporting season
• (1:20) Rio Tinto's (ASX:RIO) weaker than expected half-year results
• (2:30) BNPL stock, Zip (ASX:ZIP) almost tripling its value this month
• (2:50) The most traded stocks & ETFs by Bell Direct clients

(3:29) Five economic news items to watch out for 

ife Insurance Corporation's (LIC) much-awaited initial public offering (IPO), India's biggest-ever listing, turned into a dull affair. The insurance company's shares were about 0.9% higher from their lacklustre debut close. LIC shares closed almost flat at ₹ 876.25 per share after ending at ₹ 875.45 on the BSE. The state-owned insurance giant LIC's shares closed nearly 8 per cent from its allotment price of ₹ 949 on its market debut on Tuesday. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter. 

Elon Musk decided to ask his Twitter followers if he should sell his shares to pay the tax due on the vesting of his stock options. And it looked as if this was prompted by the Biden Administration's proposed 'Billionaire Tax'

Join your Simblified hosts as they try to find out how distressing it is for billionaires to contemplate losing some of it to taxes and what could happen if they really do.

Add one part news, one-part bad jokes, one part Wikipedia research, one part cult references from spending too much time on the internet, one part Wodehouse quotes, and one part quality puns, and you get Simblified.

A weekly podcast to help you appear smarter, to an audience that knows no less! Your four hosts - Chuck, Naren, Srikeit and Tony attempt to deconstruct topics with humour (conditions apply). Fans of the show have described it as "fun conversations with relatable folks", "irreverent humour", "the funniest thing to come out of Malad West" and "if I give you a good review will you please let me go".

Started in 2016 as a creative outlet, Simblified now has over 200 episodes, including some live ones, and some with guests who are much smarter than the hosts. Welcome to the world of Simblified!

You can contact the hosts on:

Chuck: twitter.com/chuck_gopal / instagram.com/chuckofalltrades

Naren: twitter.com/shenoyn / instagram.com/shenoynv

Tony: twitter.com/notytony / instagram.com/notytony

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Historically the most negative month for both global and Aussie equities, this September was no different. The market pulled back 2% this week (Mon-Thu) with all sectors in the red.

In this week’s wrap, Jessica covers: 

• (0:32) What's behind the plunging iron ore price
• (1:49) Technology One (ASX:TNE) rising 9% after being upgraded by analysts as a 'BUY'
• (4:13) Why it's worth exercising caution with UK exposed stocks
• (4:57) Three outlier stocks that rose over 20% after delivering on strategy
• (6:01) Four stocks Bell Direct customers are watching closely
• (6:48) Why all eyes will be on banks and travel & tourism stocks

Watch the Weekly Wrap in video here.

It was a volatile session over in the US, amid global economic recovery concerns. 

Japan declared a state of emergency in Tokyo, with its upcoming Olympics to be held with no spectators.

Also causing recovery concerns is the rebound in cases due to the COVID-19 variants many countries are currently experiencing. 

This morning the Aussie share market looks set to end the week lower, with the futures suggesting the market will fall 0.66% at the open. 

What to watch today:

• Zip (ASX:Z1P) saw its share rise as much as 15% yesterday amid speculation that rival Swedish BNPL provider, Klarna had acquired a 4% stake in the business. 
• Seven West Group (ASX:SWM) climbed 4% higher after it took its stake in building materials company Boral (ASX:BLD).  
• RBA Governor Lowe spoke yesterday to the Economic Society of Australia, where he reiterated the central bank’s position that conditions for a rate rise will not be met until 2024. 
• NSW COVID-19 cases hit a record 38 new cases yesterday, with the Federal Government pledging an extra 300,000 doses of vaccines to be distributed to NSW, noting that this won’t affect supplies for other states. Australia now sits at about 8% fully vaccinated, and 25.72% of the population having their first dose. 
• The oil price is trading up about 1.5% to US$73 a barrel, following positive US inventory data, which showed a much bigger drop than expected in crude and gasoline inventories. 
• The gold price eased around US$1,800. 
• The iron ore price fell 0.82% to US$216.

Trading ideas:

• Bell Potter has maintained its BUY rating on telemedicine company Doctor Care Anywhere (ASX:DOC) with a price target of $1.70. DOC closed 2% higher yesterday to $0.90, which implies about 93% share price growth in a year. 
• Lynas Rare Earths (ASX:LYC), BUBS Australia (ASX:BUB) and MyDeal.com.au (ASX:MYD) are all giving off bullish charting signals according to Trading Central.

The Aussie share market closed out its best financial year in over 30 years on Wednesday, with shares rebounding despite a negative start to the week’s trading.

This morning, the Aussie share market looks set to start the New Financial Year slightly lower, with the futures suggesting the market will open down 0.08%. 

What to watch today:

• In economic news, Australia’s Balance of Trade data for May will be released today at 11:30am AEST.
• On the COVID-19 front, the Prime Minister has extended no-fault indemnity insurance to GPs who administer the AstraZeneca vaccine to younger age groups. So far, 26% of Australians have received their first dose. With only 3.47% fully vaccinated.
• The oil price rose on Wednesday, trading at about US$73.55 a barrel, after data showed US crude stockpiles were shrinking and an OPEC report foresaw an undersupplied market this year. 
• The gold price rose 0.45%, still on track for its worst month in more than 4 years. 
• The iron ore price continues to trade at US$214.00.

Trading ideas:

• Bell Potter has a BUY rating on location-based information technology company Life360 (ASX:360), increasing its price target by 11% to $7.75 (previously $7.00). That’s a 15% premium to the share price. 
• Bell Potter also has a BUY rating on technology-based translation services business Straker Translations (ASX:STG), with a price target of $2.40. STG closed about 2% down yesterday, which implies 24% share price growth.
• Prospect Resources (ASX:PSC), Musgrave Minerals (ASX:MGV) and Clinuvel Pharmaceuticals (ASX:CUV) are all giving off bullish charting signals according to Trading Central.

The futures are suggesting the Aussie share market will lift 0.2% thanks to commodities charging. 

What to watch today  

• Gold stocks like Newcrest Mining (ASX:NCM) and St Barbara (ASX:SBM), which are both are in downtrends and momentum is building in a southern direction. So, it could be worth waiting if you are looking at buying into these stocks. 
• Keep an eye on Copper stocks with strong share price and earnings momentum: Oz Minerals (ASX:OZL) and Sandfire Resources (ASX:SFR). 
• In smaller caps, keep an eye on Aeris Resources (ASX:AIS) and Copper Mountain Mining Corporation (ASX:C6C).
• Keep an eye on some of the most traded stocks from yesterday for our active trader desk, Bell Direct Advantage. They were Peppermint Innovation (ASX:PIL) and Cannindah Resources (ASX:CAE).
• Economic data out today: economic growth data for the last quarter of 2020. 

Trading ideas:

• BCI Minerals Ltd (ASX:BCI) was given a little upgrade overnight. Bell Potter maintained its Buy rating in BCI, increasing its target to $0.50, implying 64% upside. 
• UBS reiterated its Buy recommendations on CSL (ASX:CSL) overnight with a $330 target. 
• Suncorp (ASX:SUN), Deep Yellow (ASX:DYL) and JB Hi Fi (ASX:JBH) are giving off bullish charting signals according to Trading Central. 

The Australian dollar has continued to soar, hitting a new two-year high overnight, 73.75 US cents. The reason for that is that the U.S. dollar continues to retreat, as inflation is now being encouraged to rise to over 2%, while interest rates are likely to remain at record lows for some time. Overnight, U.S. indices closed mixed, with the top 30 stocks, the Dow Jones falling 0.8%. The Nasdaq meanwhile gained 0.7%, supported by Apple shares rising 3.4%, and Amazon and Intel rising over 1% each.

The month of August marked great significance as both the broader S&P500 and Dow rose 7% - their best gain since the 1980's. This came as the ASX200 closed higher for the 5th month, up 2.24% - the best return since 2009.

Commodities:

• Gold holds steady where it was yesterday at US$1,974
• Oil fell 0.4% to US$42.82.

What to watch today:

• Aussie futures set to lose 0.96%, or 58 points at the open
• The RBA meets today – rates tipped to remain on hold at 0.25%
• BHP listed in New York lost 1.4%, Rio similarly fell by 1.2%

Trading ideas:

• Temple & Webster (ASX:TPW) shares soared 18% yesterday to a record all time high – $9.69 after delivering results that were much stronger than expected. Its sales have risen 161%, and Bell Potter have increased its price target to $11.40.
• PointsBet (ASX:PBH) shares fell about 7% yesterday, but it managed to remain in record high territory at $13.03. Bell Potter have upgraded the stock’s buy rating, and increased the price target to $18.40.
• Sezzle (ASX:SZL) shares fell 9.4% yesterday to $10.27, after reporting its loss sank from $4.8m to $8.2m in the half year to June 30. However, its active merchants and customers increased 220-340%. Ord Minnett increased Sezzle’s price target to $11.80.

In this instalment of our From the helm series, Bell Direct’s Jessica Amir speaks to Elders' (ASX:ELD) MD & CEO, Mark Allison.

Elders' shares have gained over 50% so far in 2020, so it's no wonder the Consumer Staples business has garnered the attention of the market. Four of its five business divisions are benefiting from increased demand, seasonable changes, and organic growth, which is why Elders also looks like it's sowing a path for further growth. 

Mark reflects on historical results that defied expectations, what to expect from its results in November, and how it's taking part in growing the Australian Agricultural industry by $40 billion in 10 years. 

This interview was recorded on the 7th July 2020.