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.
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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.