It was a bumper week for ASX 200 shares as the S&P/ASX 200 Index (ASX: XJO) jumped 1.71% higher.
Last week I was watching Northern Star Resources Ltd (ASX: NST), Woodside Petroleum Limited (ASX: WPL) and Wesfarmers Ltd (ASX: WES).
The Northern Star share price jumped 3.06% higher as investors looked to the safety of gold amid continued volatility. Woodside shares climbed as OPEC slashed production – a potential sign that the oil price war is coming to an end. Wesfarmers shares gained 2.53% despite announcing 75 Target store closures on Friday.
After a big week for last week’s top picks, here are the 3 ASX 200 shares that I’ll be keeping my eye on in the week ahead.
3 ASX 200 shares to watch this week
I think it’s worth watching the CSL Limited (ASX: CSL) share price this week. The biotech giant’s shares fell 3.61% lower last week and are trading at $290.93 right now.
CSL shares have had strong support around the $290-300 per share mark. I think earnings could still be steady in 2020 given CSL’s operations are spread far and wide across the healthcare sector.
Another ASX 200 share to watch is A2 Milk Company Ltd (ASX: A2M). The Kiwi dairy group’s shares fell 2.88% last week but remain up 22.80% in 2020.
I think investors are wondering how to value the dairy company right now. Tensions with China may threaten more exports than just barley and a2 Milk generates significant revenue from its Asian sales channels.
My final ASX 200 share to watch this week is Stockland Corporation Ltd (ASX: SGP). In contrast to the other 2, Stockland shares rocketed 13.70% higher last week.
Many of the Australian real estate investment trusts (REITs) jumped in value last week as Aussies anticipated the easing of coronavirus restrictions. That’s good news for the retail REITs and their tenants, and could provide a much-needed earnings boost in 2020.
The Stockland share price is worth keeping an eye on this week to see if there’s more growth in store as the Aussie economy begins to re-open.
There are 5 more cheap ASX shares that I think are worth keeping an eye on in 2020. Check them out in the report below.
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More reading
- Is the NAB share price a buy today?
- 2 quality ASX shares to buy for long-term growth
- 5 ASX 200 winners and 4 losers of last week
- 5 things to watch on the ASX 200 on Monday
- 3 ASX 200 growth shares I want to buy for my portfolio
Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of A2 Milk and Wesfarmers 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.
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