The Motley Fool

ASX 200 to slip: 8 shares you need to watch today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to decline 10 points when trading begins this morning, reversing some of yesterday’s gains.

Here’s a quick recap:

  • FTSE 100 (UK): up 0.08%
  • DAX (Germany): up 0.2%
  • CAC 40 (France): down 0.22%
  • Dow Jones (USA): up 0.2%
  • NASDAQ (USA): up 0.37%

Seven West Media Ltd (ASX: SWM) will remain in focus today. Its shares plunged 8% yesterday following reports that its CEO, Tim Worner, had an inappropriate relationship with one of the company’s staff members.

Another company whose CEO is in hot water at the moment is Sirtex Medical Limited (ASX: SRX). Its share price declined further on Monday as well. The shares have nearly halved in value over the past month.

Iron ore miner Fortescue Metals Group Limited’s (ASX: FMG) shares also came under pressure on Monday when it announced a transaction with its rival, Vale, was looking less likely to proceed.

BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) will also be in the spotlight after their London-listed shares fell 1.9% and 1.4%, respectively, overnight after iron ore and oil prices both dropped.

Shine Corporate Ltd (ASX: SHJ) shares also plummeted following a profit downgrade late in the session, which could put some pressure on its shares. Shares of its rival Slater & Gordon Limited (ASX: SGH) could also be impacted.

Finally, speculative recruitment business 1-Page Ltd (ASX: 1PG) could receive some attention today. The Australian Financial Review reported that Merchant Funds Management is trying to disband the company’s board, with Andrew Chapman quoted as saying: “I don’t know if the 1-Page business has merit or not.”

5 stocks under $5

We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.

And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!

*Extreme Opportunities returns as of June 5th 2020

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.

Related Articles...

Latest posts by Ryan Newman (see all)