The S&P/ASX 200 Index (ASX: XJO) edged marginally higher as a number of ASX 200 shares surged last week.
Last week I was watching Macquarie Group Ltd (ASX: MQG), Webjet Limited (ASX: WEB) and TechnologyOne Ltd (ASX: TNE).
Macquarie announced a $2,731 million full-year net profit and a $1.80 per share final dividend. That saw Macquarie shares surge 9.57% higher last week while Webjet shares jumped 9.33% higher on Friday as the Australian Government flagged an easing of restrictions. TechnologyOne shares also surged 7.05% higher as the ASX tech share climbed to a new 52-week high of $10.24 per share.
After a big week for last week’s top picks, here are the 3 ASX 200 shares that I’ll be keeping my eye on in the week ahead.
3 ASX 200 shares to watch this week
I think the Commonwealth Bank of Australia Ltd (ASX: CBA) share price is worth watching this week. Macquarie was the last of the major banks to report its earnings on Friday, but CBA reports on a different cycle. That means we haven’t seen the same level of interest in Australia’s largest bank compared to competitors like National Australia Bank Ltd. (ASX: NAB).
CBA shares could be on the move thanks to broader positivity about the Aussie economy. The government is looking to gradually ease restrictions, which is good for Aussie businesses. It’s also good for the banks that count these businesses amongst their clients.
Another ASX 200 share to watch this week is Flight Centre Travel Group Ltd (ASX: FLT). The Aussie travel company’s shares surged like Webjet’s on Friday, but I think there’s further to go. Domestic travel restrictions could soon be eased which is welcome relief for Flight Centre and its shareholders.
Having sold its Melbourne office tower for $62.5 million last week, Flight Centre could be in a solid financial position to restructure and turn things around.
Finally, I think Xero Limited (ASX: XRO) shares are worth watching. The ASX 200 tech share has lagged behind many of its WAAAX peers in recent weeks. Xero’s accounting platform is targeted at small and medium enterprises (SMEs). With more of these businesses preparing to re-open for business, that’s good news for keeping subscription numbers high in 2020.
If you’re after more shares that can surge higher in 2020, check out these 5 ASX shares for a good price today!
5 cheap stocks that could be the biggest winners of the stock market crash
Investing expert Scott Phillips has just named what he believes are the 5 cheapest and best stocks to buy right now.
Courtesy of the crashing stock market, these 5 companies are suddenly trading at significant discounts to their recent highs… creating what could be incredible opportunities for bargain-hungry investors.
Simply click here to scoop up your FREE copy and discover the names of all 5 cheap shares to buy now… before the next stock market rally.
Returns as of 7/4/2020
More reading
- ASX tourism shares on watch as government flags easing of coronavirus restrictions
- Where to invest $20,000 into ASX shares for strong long term returns
- REA Group shares are up 53% since late March. Is it too late to invest?
- These ASX 200 shares saw the biggest falls last week
- How Macquarie Group is vying to unseat CBA
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Webjet Ltd. The Motley Fool Australia owns shares of Xero. The Motley Fool Australia has recommended Flight Centre Travel Group 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 3 ASX 200 shares to watch this week appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/3cpkLPQ
Leave a Reply