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3 ASX 200 shares I’m watching this week

The S&P/ASX 200 Index (ASX: XJO) experienced another volatile week with few ASX 200 shares climbing higher. The growing coronavirus pandemic is weighing on investors’ minds as markets try to price in the potential economic impact.

Last week I was watching National Australia Bank Ltd (ASX: NAB)AGL Energy Limited (ASX: AGL) and Fortescue Metals Group Limited (ASX: FMG).

NAB shares fell 4.23% lower to $15.62 per share last week in a rollercoaster week for the ASX 200. The AGL share price climbed 3.00% and I still think it could be a good share to hedge against the coronavirus crash. Fortescue shares outperformed and climbed 4.55% last week as the mining sector saw some gains.

As we prepare for another COVID-19 hit week on the markets, check out the 3 ASX 200 shares that I’ll be keeping an eye on.

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price is one to watch this week given the continuing changes in the Aussie retail landscape. The ASX 200 supermarket shares are set to benefit from the continued shutdown as people look to stock up on supplies.

Woolworths shares haven’t been able to keep up with Coles Group Ltd (ASX: COL) or Metcash Limited (ASX: MTS) shares so far this year. However, investors might be able to look past the operational differences for the sake of consistent earnings. 

Northern Star Resources Ltd (ASX: NST)

I think Northern Star shares are worth watching this week given we could see more market volatility. ASX 200 gold shares could be set to benefit if investors remain nervous about the impacts of COVID-19.

I’ve never been much of an investor in gold shares myself. However, people like the perceived safety of the precious metal when markets are volatile.

I think the nature of COVID-19 shutdowns means gold miners may be hit by the health crisis as well. Nevertheless, it’s hard to see ASX 200 gold shares underperforming the benchmark index in the short-term.

JB Hi-Fi Limited (ASX: JBH)

JB Hi-Fi shares are on my watchlist this week thanks to the ASX 200 retailer’s potential sales. Despite many retailers closing their doors, JB Hi-Fi’s online presence could help smooth its earnings despite COVID-19.

I think the retailer’s shares could be climbing in 2020.  Many Aussies are looking to invest in their home office and new forms of entertainment in the face of the shutdown.

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Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of National Australia Bank 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 Scott Phillips.