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ASX 200 set to rise: 8 shares to watch today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to lift marginally higher when the market opens today, following a mostly upbeat session for international equity markets late on Friday.

Here’s a quick recap:

  • FTSE 100 (UK): up 0.46%
  • DAX (Germany): down 0.09%
  • CAC 40 (France): up 0.11%
  • Dow Jones (USA): up 0.29%
  • NASDAQ (USA): up 0.52%

While earnings results on Wall Street should continue to dictate the mood in US markets, local investors will predominantly be fixated on the latest inflationary figures from the Australian Bureau of Statistics.

The data will be released on Wednesday and will not only shed greater light on how the Australian economy is performing, but will also help to determine the likelihood of an official interest rate cut next week.

On the market today, the resources sector could act as a weight. Gold, oil and iron ore all fell in price during the latest session, suggesting companies like BHP Billiton Limited (ASX: BHP), Santos Ltd (ASX: STO) and St Barbara Ltd (ASX: SBM) could be impacted.

Newcrest Mining Limited (ASX: NCM) will also be a focal point for investors. The gold miner announced its quarterly results today, saying net debt had been reduced by 27% over the year while gold production had increased 0.7% to 2.4 million ounces.

Retail giant Woolworths Limited (ASX: WOW) has provided investors with an update on its operating model review, saying it expects to incur $959 million in restructuring costs, while it will also cut another 500 positions from its workforce in order to drive improved accountability and performance.

WAM Capital Limited (ASX: WAM) has announced a share purchase plan and placement to increase its investable amount. Existing shareholders can purchase up to $15,000 worth of new shares.

Meanwhile, Touchcorp Ltd (ASX: TCH) also announced it has signed an agreement with Change Up Holdings Limited and that it had already earned the initial payment from the group. Touchcorp will provide ongoing transaction and payment processing services to the business.

In broker news, Flight Centre Travel Group Ltd (ASX: FLT) could come under pressure today after Credit Suisse analysts downgraded their recommendation on the stock from Outperform to Neutral. They also cut their price target by 6.1% to $36.27, although that is still significantly above Friday’s closing price of $31.86.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia owns shares of TOUCHCORP FPO. 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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