Last week the S&P/ASX 200 Index (ASX: XJO) ended its winning streak with a small weekly decline. The benchmark index lost 0.2% over the five days to end it at 6,111.2 points.
Another busy one is expected next week with a large number of major results due to be announced.
Here are five things that I think investors should be watching next week:
ASX futures pointing lower.
The ASX 200 is expected to start the week as it finished it. According to the latest SPI futures, the benchmark index is poised to open the week 11 points lower. This is despite a solid finish to the week on Wall Street with all three major indices pushing higher. The Dow Jones rose 0.7%, the S&P 500 climbed 0.35%, and the Nasdaq index pushed 0.4% higher.
Afterpay full year results.
The Afterpay Ltd (ASX: APT) share price was on form last week and reached a record high of $82.00. All eyes will be on its shares on Thursday when it releases its full year results. While its results have largely been pre-released (EBITDA of ~$44 million), investors will no doubt be interested to learn how it has fared in FY 2021 and whether it has any further expansion plans. Rival Zip Co Ltd (ASX: Z1P) will also be releasing its results on Thursday.
Flight Centre to report major loss.
The Flight Centre Travel Group Ltd (ASX: FLT) share price will be in focus on Wednesday when its eagerly anticipated full year results are released. The travel agent giant is expecting to report a significant loss after tax in FY 2020 because of the pandemic. It has provided guidance for a statutory loss of between $825 million to $875 million.
Fortescue tipped to declare a big dividend.
On Monday the Fortescue Metals Group Limited (ASX: FMG) share price will be on watch when the iron ore producer releases its full year results. Thanks to improving grades, sky high prices, and record shipments, Fortescue is expected to report a bumper profit result. As a result, analysts are forecasting a generous full year dividend. Macquarie, for example, has forecast a fully franked dividend of ~$1.80 per share for FY 2020. This represents a 10% dividend yield.
Tech star Appen to report half year results.
The Appen Ltd (ASX: APX) share price stormed to a record high of $40.93 last week. Investors appear to be betting on the artificial intelligence company reporting another strong half year result on Thursday. In May, Appen reaffirmed its full year guidance for underlying EBITDA in the range of $125 million to $130 million. Judging by its share price performance, investors may be optimistic that an upgrade is coming.
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More reading
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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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO and Appen Ltd. 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.
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