Northern Star Resources Ltd(ASX: NST) could finish the shortened week strongly. According to CNBC, the spot gold price has risen 0.7% to US$1,896 an ounce. The gold price firmed up after the U.S. dollar sank to a multi-year low.
Early close.
The Australian share market will be closing early on Thursday ahead of the New Years break. According to the ASX, normal trading will cease at 14:10 Sydney time. After which, the market will be reopening as normal again on Monday of next week.
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On Thursday the
S&P/ASX 200 Index (ASX: XJO) finished the week on a positive note. The benchmark index rose 0.3% to 6,664.8 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
ASX futures pointing higher.
The Australian share market looks set to start the week higher following a very positive night on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the week 32 points or 0.5% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.8%, the S&P 500 has risen 1%, and the Nasdaq is up 0.9%.
On Friday the
S&P/ASX 200 Index (ASX: XJO) finished a positive week on a disappointing note. The benchmark index tumbled 1.2% to 6,675.5 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX futures pointing lower.
The Australian share market looks set to start the week in a cautious manner after an underwhelming finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the week 10 points or 0.15% lower this morning. On Friday night on the United States, the Dow Jones fell 0.4%, the S&P 500 dropped 0.35%, and the Nasdaq edged 0.1% lower.
Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a large number of broker notes this week.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
Australia and New Zealand Banking GrpLtd(ASX: ANZ)
According to a note out of
Morgans, its analysts have retained their
add rating and increased their price target on this banking giant’s shares to $26.00. The broker notes that APRA has removed dividend restrictions on the banks from 2021. It expects this to result in ANZ lifting its dividend payout ratio to upwards of 70% in the coming years. In light of this, Morgans is forecasting a $1.27 per share dividend in FY 2021 and a $1.50 per share dividend in FY 2022. Based on the current ANZ share price of $23.39, this represents 5.4% and 6.4% dividend yields, respectively.
On Tuesday the
S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled lower. The benchmark index fell 0.45% to 6,631.3 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
ASX 200 to rebound.
It looks set to be a better day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 35 points or 0.5% higher this morning. This follows a solid night on Wall Street, which in late trade sees the Dow Jones up 1.1%, the S&P 500 up 1.2%, and the Nasdaq up 0.9%. Renewed stimulus hopes drove shares higher.