MENU

Oil Slumps: 7 shares you need to watch on Friday

Oil prices tumbled overnight which will likely put the energy sector back in the spotlight today.

Here’s a quick recap:

  • FTSE 100 (UK): up 0.04%
  • DAX (Germany): down 0.17%
  • CAC 40 (France): down 0.08%
  • Dow Jones (USA): up 0.34%
  • NASDAQ (USA): up 0.69%

Overnight, oil prices plunged more than 5% after the Organisation of Petroelum Exporting Countries, otherwise known as OPEC, extended its supply cuts by nine months, according to Bloomberg.

Although oil prices remain well above the low levels they sunk to early last year, the overnight decline is still likely to hurt the energy businesses. Thus, it’s worth watching the Woodside Petroleum Limited (ASX: WPL) share price today, along with the share prices of other energy plays such as Origin Energy Ltd (ASX: ORG) and Santos Ltd (ASX: STO).

Also in the commodities space, the iron ore price shed 0.5%, according to The Metal Bulletin, and gold fell 0.2%.

Elsewhere, the Ansell Limited (ASX: ANN) share price could remain in focus after the company announced the sale of its Sexual Wellness business on Thursday, prompting a rise in its shares.

Automotive Holdings Group Ltd (ASX: AHG), on the other hand, plunged following a disappointing trding update, and could receive more attention today.

It will also be worth keeping an eye on the embattled retail sector. Myer Holdings Ltd (ASX: MYR) led a downwards march by the retailers on Thursday after one of its partly-owned subsidiaries went into administration, with Myer pulling other retailers such as JB Hi-Fi Limited (ASX: JBH) along for the ride.

Before getting started on your day, be sure to check out these two articles:

  1. Topshop flop spells trouble for Myer Holdings Ltd & retail investors
  2. 3 investing biases that could ruin your retirement

For Investors Who Are Anxious About 2017

You never know when the share market could take a turn, and it's always good to be prepared. That's why one Foolish expert is revealing 5 of his favorite dividend payers now. These "strong and steady" shares indicate a healthy stream of income plus capital gains...

But you must act now. This newly updated report is available for a limited time only, and your copy is 100% free. So don't miss out!

Simply click here to receive your free copy of "Our Top 5 ASX Dividend Shares to Earn You Money in 2017" right now.

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.

HOT OFF THE PRESSES: My #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.