Volatility was the name of the game last week as the S&P/ASX 200 Index (ASX: XJO) see-sawed throughout the week.
The benchmark Aussie index closed 1.9% higher last week but not without a few scares along the way. There were some big-name ASX 200 shares leading the index towards a close above 6,000 points on Friday.
Last week, I was watching St Barbara Ltd (ASX: SBM), Metcash Limited (ASX: MTS) and Domino’s Pizza Enterprises Ltd. (ASX: DMP).
It was a tough week for both St Barbara (-1.6%) and Metcash (-0.4%) shares while the Domino’s share price (+1.4%) performed well.
After another volatile week on the markets, find out why I’m watching Coles Group Ltd (ASX: COL) and 2 more ASX 200 shares this week.
Coles and 2 more ASX 200 shares to watch this week
I think it’s worth watching the Coles share price this week. The ASX 200 supermarket share climbed 1.0% higher last week but may continue to increase.
Tightening coronavirus restrictions in Victoria could be good news for supermarkets. Food shopping is one of the permitted purposes to leave the house which bodes well for Coles’ sales.
I think Mirvac Group (ASX: MGR) is another ASX 200 share to watch this week. Shares in the Aussie REIT fell 1.4% last week but climbed 0.5% on Friday to finish the week on a high note.
If we see a better than expected economic recovery, real estate could be one of the sectors to benefit. That’s especially the case for Mirvac which has significant office and retail assets.
I think in the current market nearly all the ASX 200 gold shares are worth watching. The Northern Star Resources Ltd (ASX: NST) share price climbed 1.4% higher on Friday and is now up 32.6% for the year.
Gold shares tend to do well in periods of market volatility. These recent gains have been driven by global gold prices rocketing higher in 2020.
If that trend continues, I think Northern Star’s 52-week high could be surpassed before the August earnings season.
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More reading
- ASX 200 Weekly Wrap: Blue chip shares pull ASX 200 back over 6,000 points
- 4 ASX 200 shares to buy with $4,000
- 5 things to watch on the ASX 200 on Monday
- Buy these strong ASX shares for your retirement portfolio
- 4 ASX shares I’d buy to protect against a recession
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool Australia has recommended Domino’s Pizza Enterprises 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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