WES, WOW, COL, EDV: Stocks in focus amid rise in market volatility

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WES, WOW, COL, EDV: Stocks in focus amid rise in market volatility

 WES, WOW, COL, EDV: Stocks in focus amid rise in market volatility
Image source: © Prostockstudio | Megapixl.com

Highlights:

  • ASX 200 was up 0.21% to 6,720.00 at 10.44 am AEST today
  • Consumer staples stocks are usually considered a safe haven in times of economic hardship
  • Shares of four ASX-listed stocks, Wesfarmers Limited, Woolworths Group Ltd, Coles Group Limited, and Endeavour Group Ltd, have recently been on the investors' watchlist

The Australian share market opened higher for the second consecutive day today (June 28)  with the benchmark index ASX 200 gaining 0.21% to 6,720.00 at 10.44 am AEST. Consumer discretionary, information technology and consumer staples were the worst performers during the early trading. As we have already crossed half of this year, if we look back, we see volatility persisted for longer than expected in the stock market during this period; and investors' sentiments have been low given a range of factors. These factors include a slowdown in global economic growth, one after the other interest rate hikes and the turbulence due to the geopolitical situation. Amidst all this, some investors consider consumer staples stocks a safe haven when all the sectors have witnessed losses due to the current situation. Now, the question is whether consumer staples stocks be considered a haven when there are recessionary concerns?

Macquarie Group (ASX:MQG) intends to raise AU$400M

Consumer staples usually consist of those companies which are less impacted by the economic cycles. These include food manufacturers and distributors, beverages & tobacco, and producers of household goods and personal products.

The one-year return of the consumer staples sector stands at nearly -1.26%, while the industry's year-to-date (YTD) performance has fallen almost 4.49%. This is way better than other sectors, though. Noticeably, at times of high market volatility, the best strategy is to be more defensive. The portfolio which loses the least is considered a winner in a bearish market. So, it would not be wrong to say that investment in the consumer staples industry during recessionary concerns is a wise move.

 

consumer staples

Image Source: © Nyul | Megapixl.com

 

In this article will talk about four ASX-listed stocks which are grabbing the attention of the investors. The four stocks include Wesfarmers Limited (ASX:WES), Woolworths Group Ltd (ASX:WOW), Coles Group Limited (ASX:COL), and Endeavour Group Ltd (ASX:EDV).

Also watch:

 

Coles Group Limited (ASX:COL)

The shares of Coles Group Limited was spotted trading 0.864% lower at AU$17.765 per share on ASX at 12:34 PM AEST today. Coles Group Limited has a market capitalisation of AU$23.94 billion. Over the last one year, Coles Group shares have gained around 4.90%, while the company's YTD performance is down nearly 0.78%. Coles Group Limited belongs to the consumer staples industry group.

 

Endeavour Group Ltd (ASX:EDV)

The share price of AU$13.36 billion company Endeavour Group Ltd was seen trading 1.005% higher at AU$7.535 per share on ASX at 12:39 PM AEST today. The Group’s last one year and YTD performance has increased nearly 19% and 11%, respectively. Endeavour Group Ltd comes under the consumer staples industry group.

 

Wesfarmers Limited (ASX:WES)

Wesfarmers' shares were trading 2.944% lower at AU$42.850 per share on ASX at 12:21 PM AEST today. The ASX-listed company has a market capitalisation of AU$50.07 billion. In the last one year, the share price of Wesfarmers Limited has fallen nearly 26.74%, while the YTD performance is –28.61%. 

Wesfarmers Limited falls in the consumer discretionary sector. The sector's last one year and YTD performance stand at nearly -21.27% and -23.02%.

 

Woolworths Group Ltd (ASX:WOW)

Shares of Woolworths Group were spotted trading 0.831% lower at AU$35.770 per share on ASX at 12.26 PM AEST. As of now, the market capitalisation of the company is AU$43.78 billion. 

Woolworths Group Ltd falls in the consumer staples industry group. In the past 12 months, Woolworths' shares have fallen up to 5.50%. The stock is down nearly 7.02% on year-to-date (YTD). 

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Keywords: Wesfarmers Limited, Woolworths Group Ltd, Coles Group Limited, and Endeavour Group Ltd, ASX 200

Meta description: Consumer discretionary, information technology and consumer staples were the worst performing sectors during today’s intraday trading session. Shares of four ASX-listed stocks, Wesfarmers Limited, Woolworths Group Ltd, Coles Group Limited, and Endeavour Group Ltd, have been in the spotlight recently.

The Australian share market opened higher for the second consecutive day today (June 28)  with the benchmark index ASX 200 gaining 0.21% to 6,720.00 at 10.44 am AEST. Consumer discretionary, information technology and consumer staples were the worst performers during the early trading. As we have already crossed half of this year, if we look back, we see volatility persisted for longer than expected in the stock market during this period; and investors' sentiments have been low given a range of factors. These factors include a slowdown in global economic growth, one after the other interest rate hikes and the turbulence due to the geopolitical situation. Amidst all this, some investors consider consumer staples stocks a safe haven when all the sectors have witnessed losses due to the current situation. Now, the question is whether consumer staples stocks be considered a haven when there are recessionary concerns?

Macquarie Group (ASX:MQG) intends to raise AU$400M

Consumer staples usually consist of those companies which are less impacted by the economic cycles. These include food manufacturers and distributors, beverages & tobacco, and producers of household goods and personal products.

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