ASX 200 set to soar: 10 shares you need to watch today

The local S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is set to open higher today after share markets around the world soared on Friday night. The Sydney Futures Exchange is pointing to a 31 point gain at the open which would push the market above 5,500 points once again.

Here’s a quick recap:

  • FTSE 100 (UK): up 0.79%
  • DAX (Germany): up 1.36%
  • CAC 40 (France): up 1.49%
  • Dow Jones (USA): up 1.04%
  • NASDAQ (USA): up 1.06%

The focus in Australia will once again be on earnings results this week. Bendigo and Adelaide Bank Ltd (ASX: BEN) is expected to report its results today, with Argo Investments Limited (ASX: ARG) also reporting a 5.2% decline in its annual earnings.

iCar Asia Ltd (ASX: ICQ) provided guidance for its revenue and EBITDA (earnings before interest, tax, depreciation and amortisation) for 2016, as well. It expects revenue to fall in the range of $6.75 million to $7.75 million, with an EBITDA loss of up to $15.5 million.

iCar Asia said revenue had been adversely impacted by weaker economic conditions in three of its major geographic regions, which will disappoint investors. Given that Carsales.Com Ltd (ASX: CAR) owns roughly 20% of iCar Asia, shares of could also be impacted.

In the energy sector, MMA Offshore Ltd (ASX: MRM) could be in for another tough session. The company advised that it expects 2017 EBITDA to be reduced by roughly $10 million, in part due to one of its key contracts being suspended due to “issues associated with our client’s drilling campaign”. Still, the shares have recovered one third of their market value since the beginning of the year to trade at 34 cents currently.

Gold miners could also come under pressure today. The precious metal fell 1.9% to around US$1,335 an ounce during the latest session, which could weigh on shares of businesses such as Independence Group NL (ASX: IGO), EVOLUTION FPO (ASX: EVN) and St Barbara Ltd (ASX: SBM).

Iron ore miners such as BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO), on the other hand, could benefit. The metal gained 2.1% to US$60.74 a tonne, according to The Metal Bulletin, while major producer Vale has also allayed fears that it would flood the iron ore market with fresh supply later in the year.

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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.

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