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Morning Bell 18 February

Bell Direct
February 18, 2021

The ASX200 is eyeing a fall of 0.3% at the open.

Locally, Victoria’s 5-day COVID-19 lockdown has finished, and Facebook has restricted news viewing and sharing in Australia.

Unemployment data will be released at 11:30am with the rate expected to fall from 6.6% to 6.5% in January.

Australian Banking Associated reported 91% of pandemic deferred loans are now being repaid.

Results highlights:

  • CSL (ASX:CSL), Australia’s third biggest company on the ASX declared a record dividend of US$1.04 per share in the half year after net profit jumped 45% to US$1.8 billion. CSL is a UBS buy with a $339 target.
  • Rio Tinto (ASX:RIO) reported a full year dividend of US$4.64 per share. RIO is a buy for Macquarie and Citi.

Companies reporting today:

  • Fortescue Metals (ASX:FMG), Pilbara Minerals (ASX:PLS), Coca-Cola Amatil (ASX:CCL), Star Entertainment (ASX:SGR), Wesfarmers (ASX:WES), Santos (ASX:STO), Woodside Petroleum (ASX:WPL) and Origin Energy (ASX:ORG).

Yesterday’s top traded stocks:

  • Province Resources (ASX:PRL) rose 457%, Credit Intelligence (ASX:CI1) rose 31%, Cirralto (ASX:CRO) gained 16% and Fatfish (ASX:FFG) fell 33%.

Local trading ideas:

  • Corporate Travel Management (ASX:CTD) was upgraded by Bell Potter with a new $22 price target.
  • Bell Potter reiterated Domino’s Pizza (ASX:DMP) as a buy with a $122.00 price target.
  • Pact Group (ASX:PGH), Maca (ASX:MLD) and Archer Materials (ASX:AXE) are giving off bullish charting signals according to Trading Central.

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