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.

More reading

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• These ASX 200 shares saw the biggest falls last week
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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.

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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a very positive note. At the time of writing the benchmark index is up 1.1% to 5,451.6 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are dropping lower:

The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is down 3% to $27.13. This is despite there being no news out of the medical device company. However, with its shares up almost 30% year to date, some investors may have decided to take a bit of profit off the table. Fisher & Paykel Healthcare’s shares have been strong performers this year thanks to increasing demand for its ventilators.

The Graincorp Ltd (ASX: GNC) share price is down 4% to $3.45. This follows news that China is threatening to slap an 80% import tax on Australian barley. China alleges that the Australian government is subsidising farmers and allowing them to dump barley into China at cheaper prices than those offered by Chinese farmers.

The Polynovo Ltd (ASX: PNV) share price is down 1.5% to $2.51. This decline appears to be down to profit taking. After all, the medical device company’s shares were on fire last week and recorded a gain of 28% over the period. This followed Polynovo’s appearance at the Macquarie Group Ltd (ASX: MQG) Investor virtual conference. Management spoke positively about the $7.5 billion market opportunity for its NovoSorb product.

The SEEK Limited (ASX: SEK) share price is 1.5% lower at $17.18. At the end of last week analysts at Morgans downgraded SEEK’s shares to a reduce rating with a $15.55 price target. It believes that job listing volumes will be lower for longer and feels the market isn’t factoring this into its current share price.

More reading

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• ASX 200 Weekly Wrap: New ASX bull run continues
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia has recommended SEEK 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 Why Fisher & Paykel Healthcare, Graincorp, Polynovo, & SEEK are dropping lower appeared first on Motley Fool Australia.

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