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S&P/ASX 200 to sink again: 11 shares you need to watch today

Wall Street fell again overnight as did European markets, and the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to follow. The Sydney Futures Exchange is pointing to a 36  point fall in the index at the open.

Here’s an overnight recap:

  • FTSE 100 (UK): down 0.5%
  • DAX (Germany): down 1.3%
  • CAC 40 (France): down 0.9%
  • Dow Jones (USA): down 0.6%
  • S&P 500 (USA): down 0.7%
  • NASDAQ (USA): down 0.7%

Iron ore miners Rio Tinto Limited (ASX: RIO), BHP Billiton Limited (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG) and a host of juniors including Atlas Iron Limited (ASX: AGO) could see their share prices rise again, as the spot iron ore price rose 1.5% overnight. The commodity has now added more than 10% in the past seven trading days.

Gold stocks Northern Star Resources Ltd (ASX: NST), Newcrest Mining Limited (ASX: NCM) and Evolution FPO (ASX: EVN) and many of the juniors could see price gains after spot gold gained 1.1% overnight to US$1,291 an ounce.

Harvey Norman Holdings Ltd (ASX: HVN) could come under pressure after proxy firm Ownership Matters recommended fund managers vote against accepting the company’s accounts when it holds its AGM on November 14.

Woolworths Limited (ASX: WOW) and Wesfarmers Ltd (ASX: WES) could also see some selling with news out that that Aldi plans to spend more than $1 billion over three years to revamp its east coast stores and upgrade its fresh food range.

Australia and New Zealand Banking Group (ASX: ANZ) is reportedly considering selling its minority stakes in one or two Asian banks as it continues to retreat from its “Super-regional” strategy.

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Motley Fool writer/analyst Mike King owns shares in Woolworths and Wesfarmers. You can follow Mike on Twitter @TMFKinga

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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