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3 ASX 50 blue-chip shares to buy in 2020

Kenneth Hall
Blue chips shares

The ASX 50 blue-chip shares have had a few mixed performances in 2019.

Fortescue Metals Group Limited (ASX: FMG) shares have been arguably the top-performing shares on the ASX 50 after rocketing 163.86% higher in 2019.

Medibank Private Ltd (ASX: MPL) has led the ASX 50 insurers, while Commonwealth Bank of Australia Ltd (ASX: CBA) is the pick of the Big Four banks.

If you’re looking to add some ASX 50 blue-chip shares to your portfolio in 2020, here are 3 starting options below.

Qantas Airways Limited (ASX: QAN)

The Aussie airline’s shares could be at the right price after a 27.60% gain this year. 

Qantas is an ASX 50 blue-chip share that could have a place in a diversified portfolio next year. It’s worth noting that the group is susceptible to changes in global oil prices, which presents a potential hurdle in 2020.

However, Qantas shares are yielding a tidy 3.40% and outperformed the ASX 200 in 2019, which could make them a buy next year.

CSL Limited (ASX: CSL)

The CSL share price has been going from strength to strength in 2019.

The Aussie medical group has posted strong earnings and consistent R&D developments to fuel its share price higher. There’s no doubt it is an ASX 50 blue-chip share after its meteoric rise in recent years.

CSL does pay a 0.82% dividend yield, but I think its upside growth potential is where the real value is at. The only question mark is its current price-to-earnings ratio of 45.6 times, which may indicate it is a little overbought right now.

Mirvac Group (ASX: MGR)

The Mirvac share price has been outperforming the S&P/ASX 200 (INDEXASX: XJO) this year as the Aussie real estate investment trust (A-REIT) cashes in on low interest rates.

Mirvac shares are up 47.27% this year compared to 22.64% for the benchmark index, with a rebound in residential real estate particularly beneficial.

With the property market booming again and cheap credit available to buyers, Mirvac could be one ASX 50 blue-chip share to watch in 2020.

The post 3 ASX 50 blue-chip shares to buy in 2020 appeared first on Motley Fool Australia.

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Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019