The S&P/ASX 200 Index (ASX: XJO) roared back to life last week as it gained 1.3% to close above 6,000 points. Several beaten-down ASX 200 shares made strong gains while tech and gold sectors continued to soar.
Last week, I was watching AMP Limited (ASX: AMP), Super Retail Group Ltd (ASX: SUL) and St Barbara Ltd (ASX: SBM).
The AMP share price fell 2.1% in another tough week for shareholders. However, Super Retail and St Barbara shares jumped 3.7% and 5.0%, respectively.
It’s a big week ahead as the August earnings season really kicks into gear. One of the biggest names that I’ll be watching this week is Commonwealth Bank of Australia (ASX: CBA).
Find out why I’ve got my eye on CBA and 2 other ASX 200 shares in the week ahead.
CBA and 2 other ASX 200 shares to watch this week
Let’s start with the big movers and shakers reporting this week. CBA shares will be worth keeping an eye on as the bank reports its full-year results on Wednesday.
This will be the first real opportunity for investors to gauge the impact of the coronavirus pandemic on the banks and the economy. I think that makes CBA a must-watch ASX 200 share over the next week or so.
Also on my watchlist this week is Newcrest Mining Limited (ASX: NCM). The ASX 200 gold share has had a strong 2020 with Newcrest shares climbing 21.0%.
I think Newcrest’s full-year result on Friday makes the Aussie miner worth watching. Global gold prices continue to surge to new record highs which pave the way for a bumper earnings result.
Outside of reporting season, I am watching Corporate Travel Management Ltd (ASX: CTD) shares.
We saw something of a resurgence in beaten-down ASX 200 shares this week. That included the Corporate Travel share price rocketing 15.1% higher.
That’s despite tightening restrictions across the country which would seem to be bad for the travel industry.
I think it’s something of a bull trap driven by speculative investors so I will be keeping an eye on Corporate Travel shares this week.
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More reading
- It’s ASX reporting season! Here’s what to watch out for this week
- Results: GPT share price on watch as net profit falls 247%
- ASX 200 Weekly Wrap: Surging commodity prices snap ASX 200’s losing streak
- 5 things to watch on the ASX 200 on Monday
- Top brokers name 3 ASX shares to buy next week
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Super Retail 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.
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