Motley Fool Australia

5 things you need to know about the Australian sharemarket today

Welcome to Monday and the start of a new week. Here are the five things I’m looking at today on the Australian sharemarket.

  1. The S&P/ ASX 200 Index (Index: ^AXJO) (ASX: XJO) has opened flat, despite strong leads from offshore markets. The Dow Jones Industrial Average gained 0.4%, while the broader S&P 500 added 0.5%. Blue chips CSL Limited (ASX: CSL) and Insurance Australia Group Ltd (ASX: IAG) both went ex-dividend today, also helping to drag on the market.
  2. In what seems to be a recurring theme, and not a good sign for junior iron ore miners, the iron ore price fell a further 0.8% to US$83.60 a tonne on Friday. The falling price has already claimed a number of smaller iron ore miners, with Western Desert Resources Ltd (ASX: WDR) the latest to collapse. That follows the collapse of Termite Resources – 51% owned by ASX-listed IMX Resources Ltd (ASX: IXR) in June this year.
    BC Iron Limited (ASX: BCI) has dropped 2.7% in early trade, and is down near 20% in the past five business days alone – suggesting investors are most concerned about this company.
  3. Billabong International Ltd (ASX: BBG) has completed the sale of its 51% stake in online retailer and its 100% ownership of, as it continues its turnaround strategy. Billabong shares are up 3.9% at 67 cents in early trade.
  4. Tweet of the Day.

    Some interesting investing ideas for Foolish investors.

  5. Stock of the Day – brought to you by Peter Stephens – REA Group Limited (ASX: REA). Peter thinks there are some valid reasons to buy into one of Australia’s most successful businesses over the past decade. You can read more here.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

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

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