The Woolworths Limited (ASX: WOW) share price was hit hard on Monday following news that Amazon was expanding its presence in the US grocery sector via a major acquisition. The broader market managed to climb however, and is expected to continue doing so today following a positive session for international equities.
Here's a quick recap:
- FTSE 100 (UK): up 0.81%
- DAX (Germany): up 1.07%
- CAC 40 (France): up 0.9%
- Dow Jones (USA): up 0.68%
- NASDAQ (USA): up 1.42%
The Woolworths share price fell 3.5% yesterday, reversing some of the company's recent gains, while Metcash Limited (ASX: MTS) and Wesfarmers Ltd (ASX: WES) declined 2.3% and 0.2% respectively.
Although Amazon's acquisition of Whole Foods Market won't impact the trio directly, it does highlight the threat posed by Amazon when it expands into Australia.
The Bellamy's Australia Ltd (ASX: BAL) share price, and the a2 Milk Company Ltd (Australia) (ASX: A2M) share price, on the other hand, both continued to rise strongly, and could thus receive more attention on Tuesday.
The big four banks will also be in focus after Moody's downgraded their credit ratings. That includes Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd. (ASX: NAB), Australia and New Zealand Banking Group (ASX: ANZ) and Westpac Banking Corp (ASX: WBC).
And Sydney Airport Holdings Ltd (ASX: SYD) reported its latest traffic performance. It reported a 7.4% increase in international travellers year-to-date and an 8.1% increase for the month of May.
Before getting started on your day, be sure to check out these two articles:
