7 shares you need to watch on Tuesday

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to fall slightly when the market opens this morning. The futures market is pointing to a 4-point decline following a mostly negative lead set by international markets.

Here’s a quick recap:

  • FTSE 100 (UK): down 0.29%
  • DAX (Germany): up 1.25%
  • CAC 40 (France): down 0.66%
  • Dow Jones (USA): down 0.1%
  • NASDAQ (USA): down 0.16%

The Medical Developments International Ltd (ASX: MVP) share price could be a focus again today after the shares soared on Friday, and again during yesterday’s session. Yesterday morning, the company announced it had renewed a partnership with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) to develop new manufacturing technologies for pharmaceutical products.

The Retail Food Group Limited (ASX: RFG) share price was slammed on Monday; however, the group released an update today which could provide investors with some comfort. The group noted that yesterday’s heavy share price decline was likely due to two reports released by UBS regarding the impact new accounting standards would have on Retail Food Group’s business, but questioned the claims made by the financial services group. It said:

“Indeed, at no stage prior to publication of the UBS Reports did UBS consult with or seek engagement with the Company regarding the matters outlined in the UBS Reports. Significantly, UBS would have no insight into the Company’s position in respect of the impact (if any) of IFRS 16 Leases, nor that of its bankers.”

The iron ore price reversed course overnight, sliding 3.3% to US$55.90 a tonne, according to The Metal Bulletin. That could weigh on the Fortescue Metals Group Limited (ASX: FMG) share price and the Rio Tinto Limited (ASX: RIO) share price.

The BHP Billiton Limited (ASX: BHP) share price also retreated on Monday and could fall further today. While it could be weighed down by the iron ore price, oil prices also retreated around 1%.

Elsewhere, the gold price remained mostly flat at US$1,280 an ounce. And the Australian dollar is fetching around US74.9 cents.

Other shares that could be worth keeping an eye on today include Metcash Limited (ASX: MTS) and Asaleo Care Ltd (ASX: AHY). The pair fell 6% and 5.4% respectively on Monday.

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Motley Fool contributor Ryan Newman owns shares of Retail Food Group Limited. The Motley Fool Australia owns shares of Retail Food Group Limited. 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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