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The Aussie share market is eyeing a lift of 0.7% at the open after global equities ended mostly on positive ground on Friday, as the U.S. reported early signs of an economic recovery.

The U.S. economy added 1.8 million jobs in July, smashing through expectations that only 1.4 million people gained a job. Meanwhile, traders and investors looked past the lack of fresh economic stimulus, with the White House and Democratic party not yet being able to agree on a new weekly payment to replace the $600 per week federal unemployment benefit that expired at the end of July.

Companies reporting today:

• Aurizon Holdings (ASX:AZJ) reported a 28% jump in its net profit after tax in the full year and also launched a $300 million buy back to return equity to shareholders.
• GPT Group (ASX:GPT) handed down their results, reporting a $519.1 million loss for the first half of the year, with its retail property valuations falling 10.5% as at 30 June.
• James Hardie Industries (ASX:JHX) reports their financial results today.

Local trading ideas:

• Flight Centre Travel (ASX:FLT) is showing a bullish signal according to Trading Central’s charting. On Friday, Flight Centre closed 6.3% up at $10.63 and Trading Central believes FLT’s share price may rise to between $12.70 – $13.20 in 25 days according to standard principles of technical analysis.
• UBS reiterated Insurance Australia Group (ASX:IAG) as a buy with a $6.10 price target. Despite IAG’s outlook being impacted by headwinds, UBS sees value in IAG. FY21 will be a tough year for underlying profits, with recovery on the horizon post COVID-19. That’s where IAG should have greater ability to restore profit growth, through stronger repricing. So that’s IAG a UBS Buy.