Stock Pick

  • 5 things to watch on the ASX 200 on Monday

    On Friday the S&P/ASX 200 Index (ASX: XJO) finished a very positive week with a small gain. The benchmark index edged 0.1% higher to 5,942.6 points.

    Will the market be able to build on this on Monday? Here are five things to watch

    ASX 200 set to fall heavily.

    The ASX 200 looks set to fall heavily on Monday after a mixed finish to the week in the United States. According to the latest SPI futures, the benchmark index is expected to open the week 78 points or 1.3% lower this morning. On Wall Street on Friday the Dow Jones fell 0.8%, the S&P 500 dropped 0.55%, and the Nasdaq index traded flat.

    Oil prices higher.

    Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after a strong end to the week for oil prices. According to Bloomberg, the WTI crude oil price jumped 2.3% to US$39.75 a barrel and the Brent crude oil price rose 1.65% to US$42.19 a barrel. Oil prices have now posted seven weekly gains out of eight.

    Gold price jumps.

    Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a positive day after the gold price jumped higher on Friday. According to CNBC, the spot gold price stormed 1.3% higher to US$1,753.00 an ounce. Coronavirus concerns sent traders to the safe haven asset on Friday.

    Metcash results.

    The Metcash Limited (ASX: MTS) share price will be on watch when it releases its full year results this morning. According to a note out of Goldman Sachs, it expects the wholesale distributor to post revenue of $13 billion and earnings before interest and tax of $326 million. This will be a 3% and 4.6% increase, respectively, on FY 2019’s result.

    Jumbo Interactive to return.

    The Jumbo Interactive Ltd (ASX: JIN) share price is scheduled to finally return from its trading halt this morning. The online lottery ticket seller requested the halt on Monday of last week while it prepared an announcement relating to the Western Australia lottery market. Last year the state government suggested it might privatise its wagering.

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    James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive 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.

    The post 5 things to watch on the ASX 200 on Monday appeared first on Motley Fool Australia.

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  • American Airlines Is Planning $1.5 Billion Stock, Convertible Sale

    American Airlines Is Planning $1.5 Billion Stock, Convertible Sale(Bloomberg) — American Airlines Group Inc. is seeking to raise about $1.5 billion by selling shares and convertible notes, according to people with knowledge of the matter, as it shores up liquidity after months of travel disruption from the coronavirus pandemic.The carrier, which has been gauging demand from potential investors over the weekend, could announce the offering as early as Sunday, the people said, asking not to be identified because the information is private. Deliberations are ongoing, and the timing and details of any deal could change, they said.A representative for American declined to comment.Fort Worth, Texas-based American is also planning a junk bond offering to raise about $2 billion at a yield of 11%, Bloomberg News reported Friday. The company is working with Citigroup Inc. on the debt offering, which could be launched as soon as this coming week.Delta Air Lines Inc., Southwest Airlines Co. and JetBlue Airways Corp. have tapped debt investors in recent weeks to boost liquidity.Airline passenger numbers in the U.S. fell 81% year-over-year as of June 16, according to the Transportation Security Administration. American this week removed a passenger who refused to wear a face covering and banned him from taking flights in the future.American shares have tumbled 44% this year through June 19, the second-best performer in a Standard & Poor’s index of the five largest U.S. carriers, behind only Southwest. The gauge has fallen 47% this year.American to date has depended largely on $5.8 billion in employee payroll support from the U.S., and is in talks to close a separate $4.75 billion federal loan the carrier has said should be finalized this month.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Coronavirus, U.S. housing market, Nike earnings: What to know in the week ahead

    Coronavirus, U.S. housing market, Nike earnings: What to know in the week aheadInvestors will be monitoring the recent spike in coronavirus cases, the U.S. housing market and Nike earnings in the week ahead.

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