Last week was another rollercoaster for ASX shares as the S&P/ASX 200 Index (ASX: XJO) slumped 0.65% lower to 5,904.10 points.
It was a difficult week as investors around the world begin to fear a second wave of COVID-19 and more economic damage. ASX gold and mining shares led the gainers for the week, while travel shares were smashed.
Last week I was watching Transurban Group (ASX: TCL), Afterpay Ltd (ASX: APT) and Southern Cross Media Group Ltd (ASX: SXL).
The Afterpay share price slumped 2.9% lower as investors start to pull back from the recent buying rush. Transurban shares fell 4.4% lower while the Southern Cross Media share price closed the week down 5.0%.
Below are the 3 ASX 200 companies on my watchlist for what could be another rollercoaster week for Aussie shares.
3 ASX 200 shares to watch this week
The first company I’ve got my eye on this week is Tassal Group Limited (ASX: TGR).
Tassal is a Tasmanian-based salmon farming company with strong supply channels in both Australia and abroad. The Tassal share price fell 6.4% last week as seafood prices continue to fall based on oversupply fears.
While current market dynamics are tough, I think there is still strong long-term potential for the ASX 200 aquaculture share. That’s especially the case if we see import restrictions and more reliance on domestic produce.
I’m also eyeing off Tabcorp Holdings Limited (ASX: TAH) this week as Aussie sports are returning in full swing.
Tabcorp is an ASX 200 wagering share with a strong presence in horse racing and sports betting. Given we’re seeing sports like the AFL and NRL return to our screens, I think Tabcorp could see an uptick in revenue in the current market.
Of course, other gaming facilities remain closed or restricted, which means earnings may be soft. However, after a 3.5% share price drop last week, I wouldn’t be surprised to see Tabcorp recover some of those losses.
My final ASX 200 share to watch right now is Saracen Mineral Holdings Limited (ASX: SAR).
The Saracen share price led the way last week as it rocketed 13.6% higher to $5.36 per share. That will no doubt please shareholders with the gold miner up 61.9% for the year.
Given the significant outperformance over its peers, I think we could see a bit of a correction in the Saracen share price in the week ahead.
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More reading
- Are Coles and Woolworths shares back in the buy zone?
- ASX 200 Weekly Wrap: ASX retreats as confidence wanes
- 3 ASX share price trends to watch next week
- The best placed ASX stocks for the August reporting season
- 3 of the best blue chip ASX 200 shares to buy in July
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and Transurban Group. 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.
The post Tassal and 2 more ASX 200 shares to watch this week appeared first on Motley Fool Australia.
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