ASX 200 to slide: 12 shares you need to watch today

The Sydney Futures Exchange is pointing to a 0.3% decline when the market opens this morning ahead of what could be another uncertain week for investors.

Here’s a quick recap:

  • FTSE 100 (UK): down 1.43%
  • DAX (Germany): up 0.36%
  • CAC 40 (France): down 0.92%
  • Dow Jones (USA): up 0.21%
  • NASDAQ (USA): up 0.54%

Resources shares will be front and centre on the market’s agenda today after some stunning moves in resources prices during the latest session.

Iron ore soared an incredible 7.7% to almost US$80 a tonne, according to The Metal Bulletin. Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) would be expected to benefit from that rapid price rise.

BHP Billiton Limited (ASX: BHP) will likely also benefit, although it – together with Santos Ltd (ASX: STO), Woodside Petroleum Limited (ASX: WPL) and other energy producers – could be weighed down by a dip in oil prices.

Gold miners such as Newcrest Mining Limited (ASX: NCM) and EVOLUTION FPO (ASX: EVN) could be sold down heavily today as well. The spot gold price plummeted another 2.5% to just US$1,227.85 an ounce.

Meanwhile, the Australian dollar has fallen to US75.43 cents.

Other companies that fluctuated wildly last week are bound to receive some more attention today. Sydney Airport Holdings Ltd (ASX: SYD) and Transurban Group (ASX: TCL) were put on the chopping block by investors fearing higher interest rates. The opposite held true for QBE Insurance Group Ltd (ASX: QBE) and Computershare Limited (ASX: CPU) which would both benefit from higher interest rates in the United States.

Retail giant Harvey Norman Holdings Limited (ASX: HVN) will also hold its annual general meeting in Sydney today, and could thus receive some attention from investors.

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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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