MENU

What to watch on the ASX this week

With earnings season now gathering pace, there will be a lot to watch on the ASX this week.

Here are a few things of interest that I’ll be looking out for:

Monday.

Embattled tech company GetSwift Ltd (ASX:GSW) was due to provide the market with an update on Friday, but no announcement was made. This could come this morning all being well. Its shares are likely to fall sharply when they eventually return to trade.

Tuesday.

All eyes will be on Magellan Financial Group Ltd (ASX: MFG) when it announces its half-year results. Its shares are up almost 20% since this time last year and the market will no doubt be looking for a strong result from the fund manager that backs up this impressive share price rise.

Wednesday.

Earnings season moves up a gear on Wednesday with banking giant Commonwealth Bank of Australia (ASX: CBA) taking centre stage. Keep a look out for increased compliance spending and provisions being made for future fines. Rio Tinto Limited (ASX: RIO) and BWP Trust (ASX: BWP) are also expected to release their results. I’m looking forward to Rio’s result and believe it has the potential to be better than expected.

Thursday.

Energy company AGL Energy Ltd (ASX: AGL) is scheduled to report its earnings on Thursday. As is financial services company AMP Limited (ASX: AMP). According to a note out of Goldman Sachs, it expects AMP to report underlying profit of $1,034 million, NPAT of $1,007 million and a final dividend of 15 cents per share.

Friday.

Property listings company REA Group Limited (ASX: REA) will release its half-year result on Friday, as will SKYCITY Entertainment Group Limited ASX: SKC. The shares of Mayne Pharma Group Ltd (ASX: MYX) will also be one to watch ahead of the weekend. This is because industry giant Teva Pharmaceuticals will release its latest quarterly result overnight on Thursday in the United States. This should provide investors with an idea of how Mayne Pharma has been performing amid pricing pressures in the generic drugs market.

Here are three exciting shares worth watching very closely in 2018. I think they have the potential to be market-beaters.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BWP Trust and REA 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 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.