ASX 200 set for further gains: 12 shares to watch

The Sydney Futures Exchange is pointing to another 30-point gain when the market opens today, following the lead set by international markets overnight.

Here’s a quick recap:

  • FTSE 100 (UK): down 0.03%
  • DAX (Germany): up 1.33%
  • CAC 40 (France): up 1.57%
  • Dow Jones (USA): up 0.66%
  • NASDAQ (USA): up 0.69%

It was a night dominated by huge movements in commodity prices – some good and some bad. Oil and iron ore were the big surprise, lifting around 5% and 6% respectively which could bode well for companies in those spaces.

The London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) rose strongly overnight, suggesting a reasonable day for investors in those two companies, while Fortescue Metals Group Limited (ASX: FMG), Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could also get a boost.

South32 Ltd (ASX: S32) is another company whose share price has soared recently. In fact, its shares hit a fresh 52-week high yesterday and investors will hope for further gains today.

Gold, on the other hand, suffered one of its biggest one-day falls in weeks. It fell to US$1,334 an ounce which could weigh on shares of businesses such as EVOLUTION FPO (ASX: EVN) and Newcrest Mining Limited (ASX: NCM).

Meanwhile, lithium miners could be in focus again today as well, particularly Kingston Resources Ltd (ASX: KSN) and Ardiden Ltd (ASX: ADV). Kingston Resources said it had yielded high grade lithium rock chips at the Deep Purple South area while Ardiden secured a third lithium project.

Elsewhere in the market, Downer EDI Limited (ASX: DOW) announced that its Downer-Soletanche Bachy joint venture had been awarded a construction contract for the City Rail link Project in New Zealand.

In broker news, Blackmores Limited (ASX: BKL) will likely also receive some attention after Credit Suisse initiated covered on the stock, with an ‘outperform’ rating.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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