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ASX preview on Thursday: 8 shares you need to watch today

The Estia Health Ltd (ASX: EHE) share price will be in focus today after it revealed a potential takeover plot for its business.

Here’s a quick recap:

  • FTSE 100 (UK): up 0.13%
  • DAX (Germany): down 0.53%
  • CAC 40 (France): down 0.18%
  • Dow Jones (USA): down 0.2%
  • NASDAQ (USA): down 0.58%

In an announcement made after the market closed on Wednesday, Estia Health said it had become aware of an investor note from Sentinel Health Trust which outlined a strategy to turn its 4.99% stake into a controlling interest with one of it rivals.

The announcement could also impact trading in Estia’s listed rivals, being Japara Healthcare Ltd (ASX: JHC) and Regis Healthcare Ltd (ASX: REG). Year-to-date, Estia Health’s share price has risen 21% while Japara and Regis Healthcare are down 8% and 2%, respectively.

The Bellamy’s Australia Ltd (ASX: BAL) share price could receive some more attention today. The shares have climbed almost 13% over the past four sessions, including a 3.4% jump on Wednesday.

The BHP Billiton Limited (ASX: BHP) share price will also come into focus again, with iron ore and copper both rising strongly overnight. That could also help bolster shares of Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO).

On the other hand, gold and oil prices both retreated marginally overnight, which could weigh on shares in those sectors. The Australian dollar is also trading below US76 cents.

Vita Group Limited (ASX: VTG) shares rebounded strongly during yesterday’s session after getting poleaxed on Tuesday, so it’s worth keeping an eye on those shares today.

Before getting started on your day, be sure to check out these two articles:

  1. 5 ASX tech shares you’ve never heard of
  2. 4 dividend shares you don’t have to babysit

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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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