MENU

What to watch on the ASX this week

Despite a reasonably solid start to the week, last week the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) finished with a disappointing decline of approximately 1%.

All being well, this short week will be a more positive one. Here are a few things to watch out for:

Monday.

Confession season is still in full swing and Australian Pharmaceutical Industries Ltd (ASX: API) will be one to watch today after its trading update revealed suppressed retail conditions were experienced by its Priceline network. Iron ore miners including Fortescue Metals Group Limited (ASX: FMG) will be on watch following a rise in the iron ore price.

Tuesday.

Although the date could change, I’ll have my eye on the Western Areas Ltd (ASX: WSA) share price on Tuesday when it is due to release its quarterly update. The nickel producer’s shares are up 30% since this time last year thanks to favourable nickel prices. This update may reveal whether the share price rise has been justified. Rare earths company Lynas Corporation Ltd (ASX: LYC) is also expected to release its quarterly update on Tuesday.

Wednesday.

Priceline operator Australian Pharmaceutical Industries holds its annual general meeting on Wednesday. The company will no doubt reveal further details on the “suppressed retail conditions” being faced. Industry peer Sigma Healthcare Ltd (ASX: SIG) will be on watch as well. Elsewhere, gold miners Resolute Mining Limited (ASX: RSG) and Evolution Mining Ltd (ASX: EVN) are due to release their quarterly updates.

Thursday.

On Thursday it appears quiet on the ASX ahead of the public holiday on Friday. Overnight on Wednesday U.S. crude oil inventories data will be released, which could have an impact on oil prices. This could make it worth keeping an eye on Santos Ltd (ASX: STO) and Beach Energy Ltd (ASX: BPT) on Thursday.

Friday.

Market closed for Australia Day.

Finally, here's something to watch out for this year. This major investment opportunity is not to be missed if you ask me.

Bill Gates Says This Could Be Worth “10 Microsofts”

If You Missed Investing In Microsoft in 1996 – Read This

I can’t believe so many investors haven’t heard about something Microsoft founder Bill Gates told a group of college students in 2004.

This could be your chance to get in on the ground floor!

Click here to discover more!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Australian Pharmaceutical Industries 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 Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.