5 things to watch on the ASX on Wednesday

The shares of A2 Milk Company Ltd (ASX:A2M), Altium Limited (ASX:ALU), and Coca-Cola Amatil Ltd (ASX:CCL) will be on watch on Wednesday. Here's why…

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It was a disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on Tuesday as political chaos weighed on investor sentiment. The benchmark index finished the day almost 1% lower at 6,284.4 points.

Will the local market be able to bounce back on Wednesday? Here are five things to watch:

ASX futures pointing lower.

The Australian market looks set to fall again on Wednesday. According to the latest SPI futures, the local market is expected to open the day 10 points or 0.16% lower. This is despite solid gains on Wall Street which saw the Dow Jones push 0.25% higher, the S&P 500 rise 0.2%, and the Nasdaq climb 0.5%. The S&P 500 touched on an all-time high overnight and tied the record for the longest ever bull market.

Altium delivers strong result.

After the market closed on Tuesday electronic design software company Altium Limited (ASX: ALU) released its full-year results. For the 12 months ended June 30, Altium achieved revenue growth of 26% to US$140.2 million and a 34% increase in net profit after tax to US$37.5 million. This profit result sits just a touch higher than the Bloomberg consensus estimate of US$37.4 million.

A2 Milk results.

A2 Milk Company Ltd (ASX: A2M) shares will be on watch after the infant formula and dairy company announced its full-year results. On the top line a2 Milk reported total revenue of NZ$922.7 million, an increase of 68% over the prior corresponding period. Net profit after tax came in at NZ$195.7 million, up a massive 116% year-on-year.

Other results due for release.

It looks set to be a busy day for results releases. Popular companies including Bapcor Ltd (ASX: BAP), Coca-Cola Amatil Ltd (ASX: CCL), Corporate Travel Management Ltd (ASX: CTD), and Vocus Group Ltd (ASX: VOC) are all expected to report their numbers this morning.

Shares going ex-dividend.

The shares of energy company AGL Energy Ltd (ASX: AGL), financial services company AMP Limited (ASX: AMP), and administration services provider Link Administration Holdings Ltd (ASX: LNK) are likely to drop lower today after going ex-dividend for their respective pay outsthis morning. AGL and AMP will then pay their shareholders in late September, whereas eligible Link shareholders should expect a pay check in mid-October.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Vocus Communications Limited. The Motley Fool Australia owns shares of A2 Milk and Altium. The Motley Fool Australia has recommended Coca-Cola Amatil 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.

More on Share Market News

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »

Father in the ocean with his daughters, symbolising passive income.
Dividend Investing

I'd spend $8k on these ASX 200 shares today to target a $6,102 annual passive income

I believe these ASX 200 shares will continue rewarding passive income investors for years to come.

Read more »

Three businesspeople leap high with the CBD in the background.
Share Market News

Boom! ASX 200 blasts to new record highs

ASX 200 investors just sent the benchmark index into uncharted territory.

Read more »