There wasn't much for investors to take comfort from last week with the benchmark index, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO), falling over all five trading sessions to end the week down 3.2%.
To put those falls into context, the index's losses amounted to the single biggest weekly drop since June 2013! Amongst the causes of the decline was a continued slide in the price of oil, a substantial drop in the copper price in response to weak Chinese data and the shock decision of the Swiss central bank to abandon its currency peg.
There's no doubt about it – it's a difficult environment for investors, however there are still some very attractive opportunities out there right now. Here are a few that could be worth watching…
Ardent Leisure Group's (ASX: AAD) share price has pulled back around 16% over the past three months. While the stock might not be described as 'cheap' yet, it could certainly meet the criteria of growth at a reasonable price. With entertainment assets spanning Australia, New Zealand and increasingly the USA, the group offers shareholders unique access to a growing range of businesses.
Shine Corporate Ltd (ASX: SHJ) may not be a familiar stock to many investors but that is likely to change for the legal services firm which has followed in the footsteps of Slater & Gordon Limited (ASX: SGH) by listing itself on the ASX. With a focus on personal injury litigation and plans to consolidate the sector, Shine appears to be in a sweet spot and is forecast to grow earnings at a double digit rate over the next few years.
Northern Star Resources Ltd (ASX: NST) is well-and-truly back in favour with investors having gained 69% in the last month. As I wrote here, some investors appear to be adjusting their portfolios into the perceived safe-haven of gold as a hedge against downside volatility. The strategy is certainly putting a rocket under the share prices of gold producers such as Northern Star, however with the gold price at only US$1,265 an ounce there could still be more upside left for investors.
