The S&P/ASX 200 Index (ASX: XJO) was on form gain last week and recorded another strong gain. The benchmark index rose an impressive 2% over the period to finish at 6,126.2 points.
Will there be more of the same next week? Here are five things to watch:
ASX futures pointing lower.
The benchmark ASX 200 looks set to start the week in the red. According to the latest SPI futures, the ASX 200 is poised to open the week 58 points lower on Monday. This follows a reasonably underwhelming finish to the week on Wall Street. On Friday the Dow Jones rose 0.1%, the S&P 500 was flat, and the Nasdaq index fell 0.2%.
CSL results.
On Wednesday the CSL Limited (ASX: CSL) share price will be in focus when it hands in its eagerly anticipated full year results. According to CommSec, the market is expecting the biotherapeutics giant to post a net profit after tax of US$2.11 billion. But perhaps the most important part of its release will be its outlook for FY 2021. There are concerns that disruptions to plasma collections during the pandemic could weigh heavily on its FY 2021 results.
Strong profit growth expected from A2 Milk Company.
Also in focus on Wednesday will be the A2 Milk Company Ltd (ASX: A2M) share price when it hands in its full year results. Management has provided guidance for revenue in the range of NZ$1,700 million to NZ$1,750 million in FY 2020. On the bottom line, according to CommSec, the market is expecting the infant formula and fresh milk company to report a net profit after tax of NZ$389 million. This will be up 35% on FY 2019’s net profit after tax of NZ$287.7 million.
Travel results galore.
Investors will get to see just how badly the pandemic has impacted the travel sector this week. A number of companies with exposure to the travel and tourism markets are scheduled to release their results. This includes Corporate Travel Management Ltd (ASX: CTD) and Crown Resorts Ltd (ASX: CWN) on Wednesday and Qantas Airways Limited (ASX: QAN) and Webjet Limited (ASX: WEB) on Thursday.
Fortescue to declare a massive dividend?
The Fortescue Metals Group Limited (ASX: FMG) share price will be on watch on Monday when it releases its full year results. Expectations are high for the mining giant due to its strong production and the sky-high iron ore price. Last week Macquarie suggested Fortescue could pay a dividend of ~$1.80 per share for FY 2020. This represents a massive 10% dividend yield.
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More reading
- How to turn $20,000 into $900,000 in 5 years with ASX shares
- These were the best performing ASX 200 shares last week
- ASX 200 rises 0.6%, Mesoblast soars
- Why I’d buy today’s CSL share price over Mesoblast
- Wage growth is plummeting – here are 3 ASX dividend shares to start a second income
James Mickleboro 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 owns shares of and has recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Crown Resorts 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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