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Morning Bell 25 May
Aussies shares are eyeing a 1.2% rise at the open going by the futures, despite global equities closing mixed on Friday amid simmering China-U.S tension.
Two trading ideas for today:
- Bell Potter upgraded NAB (ASX:NAB) from a hold to a buy with a price target of $17.30, implying 12% yearly growth from its $15.32 close price on Friday.
- Australian Finance Group (AFG) issued over 12 million new shares onto the market following a capital raising and looking at Trading Central’s charts it’s showing more bullish signals.
Investors will be watching:
- Eclipx Group (ASX:ECX)
- China is seeking to impose a National Security law on Hong Kong, which threatens Hong Kong’s future as a regional financial hub.
- US futures are currently trading higher, suggesting a positive open when Wall Street opens. But if China imposes the law and Hong Kong retaliates, keep an eye on your ASX200, GEAR or BEAR holdings.
