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ASX 200 to end 7-day winning streak: 7 shares to watch

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) could snap a seven-session winning streak today with the Sydney Futures Exchange pointing to an 11 point, or 0.2% decline when the market opens. That would follow a trend set by international markets on Friday which saw markets shave some of their recent gains.

Here’s a quick recap:

  • FTSE 100 (UK): up 0.22%
  • DAX (Germany): down 0.01%
  • CAC 40 (France): down 0.30%
  • Dow Jones (USA): up 0.05%
  • NASDAQ (USA): down 0.09%

In London on Friday, BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) were among the companies weighing the market down. That may not bode well for their ASX-listed shares today, although oil prices did manage a slight gain during the latest session which could offer some support.

Australia and New Zealand Banking Group (ASX: ANZ) shares also enjoyed a strong run last week, soaring almost 7.5%. If the market does take a breather today, ANZ shares could retreat as well.

Lynas Corporation Limited (ASX: LYC) shares could move today after the company released its quarterly cash flow report. It generated just under $1.8 million in cash from operations, with $43.3 million cash on hand at the end of the period.

Also in the news is JB Hi-Fi Limited (ASX: JBH), which is reportedly set to launch a bid for rival business The Good Guys. An acquisition would bolster its position in the market, but wouldn’t be without risk – particularly if JB Hi-Fi were to overpay for the business.

Finally, shares in the gold sector could be in for a mixed day. The gold price rose marginally during the latest session but, as markets adjust to uncertainty from events such as Brexit, investors may wonder how much further gold has to run.

The gold price has soared in 2016, benefiting companies such as Newcrest Mining Limited (ASX: NCM) and Regis Resources Limited (ASX: RRL). However, the pair fell on Friday with further falls possible if the gold price does cool off.

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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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