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What to look out for on the ASX next week

It looks set to be an eventful week for the Australian share market next week.

Here are a few things to look out for:

Monday.

On Monday Nufarm Limited (ASX: NUF) shares will be on watch when it releases its full year results. A weak result is expected from the agricultural chemicals company, so all eyes will be on its guidance for FY 2020. The market is currently expecting a 19% rebound in EBITDA next year. Investors will also be looking out for an update on its key Omega-3 commercialisation. Further, on Monday a number of blue chip shares will be paying their shareholders their latest dividends. These include Bendigo and Adelaide Bank Ltd (ASX: BEN) and Insurance Australia Group Ltd (ASX: IAG).

Tuesday.

On Tuesday the Reserve Bank of Australia will take centre stage when it holds its meeting. According to the most recent cash rate futures, the market has priced in a 78% probability of the central bank taking rates down to a new record low of 0.75%. In addition to this, Tuesday marks the end of proceedings in the Federal Court in respect to the TPG Telecom Ltd (ASX: TPM)-Vodafone merger. However, a decision is not expected to be announced for a few months. And finally, watch out for September’s CoreLogic home value index.

Wednesday.

Today the shareholders of iron ore producer Fortescue Metals Group Limited (ASX: FMG) will be paid another dividend. The miner is scheduled to pay shareholders a 24 cents per share fully franked dividend. Estia Health Ltd (ASX: EHE) and Iluka Resources Limited (ASX: ILU) are also due to pay their latest dividends on Wednesday.

Thursday.

On Thursday the ABS will release Australia’s trade balance for the month of August. Australia’s surplus hit a new high of $8 billion in June and then remained elevated at $7.3 billion in July thanks to soaring commodity prices. Things are expected to normalise a touch in August, with the market expecting a surplus of around $5.6 billion due to softening commodity prices.

Friday.

Finally, on Friday retail shares such as JB Hi-Fi Limited (ASX: JBH) and Harvey Norman Holdings Limited (ASX: HVN) will be on watch when the ABS releases August’s retail sales data. In July retail sales fell 0.1% month on month and rose 2.4% year on year. This was short of expectations and appeared to show little positive impact from rate and tax cuts. The market will no doubt be hoping for better in August.

With rates likely to go lower next week, now could be a good time to snap up these high quality dividend shares.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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