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

Oil prices recovered overnight, but that’s unlikely to keep the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) from falling. The ASX futures are pointing to a sharp drop at the open, following in the footsteps of international markets overnight ahead of the U.S. presidential debate.

Here’s a quick recap:

  • FTSE 100 (UK): down 1.32%
  • DAX (Germany): down 2.19%
  • CAC 40 (France): down 1.8%
  • Dow Jones (USA): down 0.91%
  • NASDAQ (USA): down 0.91%

Global banks were sold off overnight. Deutsche Bank, for instance, plunged 7.1%, while Wells Fargo & Co lost 1.9%. As such, Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd. (ASX: NAB), Westpac Banking Corp (ASX: WBC) and Australia and New Zealand Banking Group (ASX: ANZ) could be ones to watch today.

Woolworths Limited (ASX: WOW) and BHP Billiton Limited (ASX: BHP) are two more blue-chips worth keeping an eye on. Woolworths shares were sold off on Monday, while BHP could come under pressure as well after its London-listed shares fell 0.7% overnight.

SAI Global Limited (ASX: SAI) shares soared almost 29% on Monday after it confirmed a takeover offer, although the shares should cool down today.

Meanwhile, shares of Iress Ltd (ASX: IRE) and Cover-More Group Ltd (ASX: CVO) are expected to remain in a trading halt. Iress announced the acquisition of Financial Synergy, while Cover-More also announced an acquisition and capital raising.

Surfstitch Group Ltd (ASX: SRF) will likely be in focus after its CFO resigned late on Monday afternoon, adding to the red flags surrounding the online retail business.

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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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