Another week, another wild ride for ASX 200 shares.
The S&P/ASX 200 Index (ASX: XJO) edged 0.2% lower to 6,024 points despite strong gains from the tech sector.
Last week, I was watching Coles Group Ltd (ASX: COL), Mirvac Group (ASX: MGR) and Northern Star Resources Ltd (ASX: NST).
The continued volatility was good for global gold prices which saw the Northern Star share price close up 3.7% for the week. Coles shares slid 2.0% from an all-time high while Mirvac shares dropped 2.8% lower.
After another volatile week on the markets, find out why I’ve got my eye on HUB24 Ltd (ASX: HUB) and 2 more ASX 200 shares this week.
HUB24 and 2 more ASX 200 shares to watch this week
Any recent share gainer is worth watching in my books. That’s certainly the case for HUB24 shares which are up 46.9% in July alone.
Shares in the wealth management software platform surged after the company reported record annual inflows of $4.95 billion, up 27% from FY19, with funds under administration climbing 34% to $17.2 billion for the year.
I think those strong numbers make the ASX 200 finance share worth watching in the weeks ahead.
While on the subject of numbers, Thursday’s budget update has provided some food for thought.
In particular, I think ASX 200 bank shares are worth watching after the Federal Government announced an $85.8 billion budget deficit for the year.
With net debt set to balloon to $488 billion by the end of June. That could be good or bad news depending on how that money is spent in 2020.
ASX bank shares like Commonwealth Bank of Australia (ASX: CBA) are so intertwined with the Aussie economy. That means strong government support could be good for the CommBank loan book and earnings quality.
Finally, the Orocobre Limited (ASX: ORE) share price is on my weekly watchlist. The ASX 200 lithium share rocketed 13.2% higher last week on renewed hopes of an electric vehicle boom.
Tesla Inc (NASDAQ: TSLA) shares have continued climbing recently on the back of strong earnings and closed out short positions. Strong production to fulfill demand could make lithium shares like Orocobre worth watching in the weeks ahead.
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More reading
- 3 ASX dividend shares I like ahead of the August earnings season
- These are the 10 most shorted shares on the ASX
- These were the ASX 200’s biggest share gainers last week
- These shares were the ASX 200’s biggest losers last week
- ASX 200 Weekly Wrap: ASX has week of high volatility
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 and recommends Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool Australia has recommended Hub24 Ltd. 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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