S&P/ASX 200 to sink: 13 shares to watch

Credit: Domiriel

The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is expected to trade firmly lower following weak leads from international markets on Friday.

Here’s a recap:

  • Dow Jones (USA): down 2.39%
  • NASDAQ (USA): down 2.74%
  • FTSE 100 (UK): down 2.01%
  • DAX (Germany): down 2.54%
  • EURO STOXX 50 (Europe): down 2.37%
  • Shanghai Composite (China): down 3.55%

In the US on Friday, the Dow Jones and NASDAQ revisited their China concerns and reacted to further falls in the already depressed oil price. Last week, oil prices sunk below $US30 a barrel for the first time in 12 years.

In Europe, the fallout from BHP Billiton Limited’s (ASX: BHP) announcement of a $10.31 billion write-down of its oil and gas assets coupled with ongoing falls in commodity prices saw markets head lower. FTSE-listed shares of Rio Tinto Limited (ASX: RIO) and BHP closed 5.3% and 6.4% lower, respectively.

Closer to home, the Sydney Futures Exchange is tipping an 87-point, or 1.7%, fall in the S&P/ASX 200 at the open.

The 5.5% fall in oil, and China market jitters, could place more pressure on the share prices of BHP, Rio, Fortescue Metals Group Limited (ASX: FMG), Woodside Petroleum Limited (ASX: WPL), Santos Ltd (ASX: STO) and Oil Search Limited (ASX: OSH).

Shares of Auckland-based Gentrack Group Ltd (ASX: GTK) will also be in focus after the software company announced the appointment of Ian Black as CEO.

Elsewhere, in the wake of significant amounts of volatility in its share price, Liquefied Natural Gas Ltd (ASX: LNG) has made an investor presentation to the market.

In other news, iProperty Group Ltd (ASX: IPP) released its quarterly cash flow report; uranium miner Paladin Energy Ltd (ASX: PDN) delivered its quarterly activities report; and managed platform provider Praemium Ltd (ASX: PPS) reported gross fund inflows.

In broker news, analysts at Macquarie cut their price target on shares of Ramsay Health Care Limited (ASX: RHC) by 14% to $66, according to Dow Jones Newswires. Deutsche Bank analysts cut their price target on shares of AMP Limited (ASX: AMP) 4.4% to $6.50.

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Motley Fool writer/analyst Owen Raszkiewicz owns shares of LNG Ltd. 

Owen welcomes your feedback on Google plus (see below), LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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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