Although the S&P/ASX 200 Index (ASX: XJO) finished the week softly, it couldn’t stop it from recording another solid weekly gain. The benchmark index rose 1% over the five days to 6,601.1 points.
Another busy five days is expected next week. Here are a few things to watch:
ASX 200 futures pointing higher.
The Australian share market looks set to start the week on a very positive note. According to the latest SPI futures, the ASX 200 is expected to rise 39 points at the open tomorrow. This follows a solid end to the week on Wall Street on Friday, which saw the Dow Jones rise 0.1%, the S&P 500 climb 0.25%, and the Nasdaq jump 0.9%.
Collins Foods half year result.
The Collins Foods Ltd (ASX: CKF) share price will be one to watch on Tuesday when it hands in its half year results. The KFC and Taco Bell operator has been a positive performer during the pandemic and delivered strong sales and earnings growth in FY 2020. Expectations are high for FY 2021, with more of the same being forecast in the first half. Investors will also be keen to see how its European businesses are faring given the rising COVID cases on the continent.
Zip Co AGM.
The Zip Co Ltd (ASX: Z1P) share price could be on the move on Monday when it holds its annual general meeting. While the buy now pay later provider only recently released a trading update, it could potentially provide investors with an idea of how it has performed in November and during the Black Friday sales event. In addition, the company could update the market on its international expansion plans and progress.
Premier Investments AGM.
Smiggle, Peter Alexander, and Just Jeans owner, Premier Investments Limited (ASX: PMV), is holding its annual general meeting on Friday. It was a surprisingly strong performer in FY 2020 thanks to its online sales growth. Premier Investments reported a 29% increase in net profit after tax to $137.8 million. Investors will no doubt be keen to hear whether this momentum has carried over into the new financial year.
Qantas rated as a buy.
The Qantas Airways Limited (ASX: QAN) share price could be heading higher next week according to analysts at Goldman Sachs. They have just reiterated their buy rating and $6.99 price target on the company’s shares. The broker believes that a change of focus from rival Virgin Australia has put Qantas in a strong position domestically as borders reopen.
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James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia has recommended Collins Foods 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.
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