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What to watch on the ASX 200 next week

Despite being highly volatile, last week was a very positive one for the S&P/ASX 200 Index (ASX: XJO). The benchmark index stormed 225.1 points or 4.65% higher to end the week at 5067.5 points.

Will there be more of the same next week? Here are a few things to watch:

ASX 200 futures pointing higher.

It may have been a poor end to the week on Wall Street, but that doesn’t look likely to stop the S&P/ASX 200 index from pushing higher on Monday. According to the latest SPI futures, the index is expected to open the week 46 points higher. On Wall Street the Dow Jones fell 1.7%, the S&P 500 dropped 1.5%, and the Nasdaq fell 1.5%.

Reserve Bank meeting.

On Tuesday the Reserve Bank of Australia will meet to decide on the cash rate. Recent emergency cuts have taken the cash rate down to a record low of 0.25%, but there is speculation the central bank could keep on going. According to the latest cash rate futures, the market is pricing in a 55% probability of a cut to zero next week.

Bank of Queensland result.

The Bank of Queensland Limited (ASX: BOQ) share price will be on watch on Wednesday when the regional bank releases its half year results. It will be the first bank to release its numbers since the COVID-19 outbreak hit Australia. Last week the bank withdrew its guidance for FY 2020.

Flight Centre could return.

The Flight Centre Travel Group Ltd (ASX: FLT) share price has been suspended from trade for almost three weeks, but could return next week. The embattled travel agent giant is believed to be launching a capital raising to ensure it survives through these uncertain times. Flight Centre is understood to be trying to raise $500 million at a price of $7.20 per share. This will be a sizeable discount to its last price of $9.91.

PolyNovo update.

Another company which isn’t trading at the moment is medical device company Polynovo Ltd (ASX: PNV). It was halted from trade on Friday and is expected to return on Tuesday. The company requested the halt pending an announcement relating to clinical trial results, a trading update, and a funding arrangement. Last month the company completed its CP-002 feasibility study assessing the safety and effectiveness of the NovoSorb Biodegradable Temporizing Matrix (BTM) in the treatment of full thickness burn injuries.

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*Returns as of 17/3/20

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Flight Centre Travel 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 Scott Phillips.

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