Morning market movers: 15 stocks to watch

Our market is poised to give up yesterday's gains but it's not all bad news as Woodside Petroleum Limited (ASX:WPL), Sirtex Medical Limited (ASX:SRX) and Sydney Airport Holdings Ltd (ASX:SYD) could buck the downtrend.

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Our market is set to give up yesterday's gains as fears about Greece's expulsion from the European Union weigh on stocks and as most commodities dropped into the red.

The futures market is pointing to a 0.7% decline in the S&P ASX 200 (Index: ^AXJO) (ASX: XJO) this morning and it's probably the iron ore miners like Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) that will lead the decline as the price of the steel making ingredient tumbled to a six-week low.

Forecasts of rising supplies of the ore from Australia sparked a 3.2% drop in the iron ore price to $US59.35 a tonne and analysts are expecting the commodity to fall further to between $US40 and $US50 a tonne in the current half.

This dire prediction is hanging heavy over Atlas Iron Limited (ASX: AGO). Standard & Poor's may have upgraded the rating on the miner's debt to "CCC+" from "CCC" after the miner undertook a company-saving recapitalisation and restructure, but the ratings agency put the stock on a "negative" outlook – meaning that Atlas' debt is likely to be downgraded again in the next month or so.

Gold stocks like Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) are also likely to be on the nose after the gold price lost 0.6% to $US1,172 an ounce, although energy stocks like Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could buck the trend as the West Texas Intermediate (WTI) crude price jumped 2% to $US59.47 a barrel.

Another stock that is likely to find support is salmon farmer Tassal Group Limited (ASX: TGR) after the stock found favour with investors in the wake of yesterday's new contract announcement with Aldi and Woolworths.

Liver cancer treatment developer Sirtex Medical Limited (ASX: SRX) should find support as well after releasing new data to support the use of its treatment to treat the disease.

Port and freight operator Asciano Ltd (ASX: AIO) is also in the spotlight as it works towards a deal to sell its stake in the Patrick business to Brookfield for more than $1 billion, according to the Australian Financial Review.

Finally, agri-business Graincorp Ltd (ASX: GNC) and labour hire group Programmed Maintenance Services Limited (ASX: PRG) are likely to fall as the stocks trade without their dividend entitlements today. Programmed Maintenance is in the midst of acquiring Skilled Group Ltd. (ASX: SKE) in a cash and scrip deal.

Motley Fool contributor Brendon Lau owns shares of Rio Tinto Ltd., SKILLED Group Limited, and Woodside Petroleum Ltd.. Follow me on Twitter - https://twitter.com/brenlau 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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »