Last week was a strong one for ASX 200 shares as the S&P/ASX 200 Index (ASX: XJO) surged 2.60% higher to 6,057.90 points.
Investors put aside fears of a second wave to push share prices higher on the back of a strong United States jobs report. There’s no doubt the coronavirus pandemic is weighing heavily on global markets. However, there are growing signs that economic growth could return sooner than expected.
The Tassal share price jumped 4.1% higher last week while Tabcorp and Saracen shares climbed 2.4% and 8.2%, respectively.
Now find out why I’m watching Altium Limited (ASX: ALU) and two other ASX 200 shares in the week ahead.
Altium and 2 more ASX 200 shares to watch this week
The Altium share price jumped 4.6% higher on Friday and I think it could carry that momentum into this week.
Altium is in an interesting place given it spans both the US and Australia. In fact, the printed circuit board (PCB) software design company was founded in Tasmania but has its core research and development operations in San Diego, California.
Stronger economic and jobs data is a good thing for the ASX 200 tech share. If we see the US economy bounce back quicker than expected, this could mean a stronger business sector and potentially more North American sales for Altium.
Staying with the tech theme, I also like the look of NextDC Ltd (ASX: NXT) shares this week.
The NextDC share price rocketed 15.5% higher last week, hitting a new record high of $11.12 per share. The ASX 200 tech share now boasts an impressive market capitalisation of just over $5.0 billion and sits within the S&P/ASX 100 Index.
Given the strong tailwinds I’m seeing in the data security and storage industry, I wouldn’t bet against NextDC. Particularly given the strong momentum behind the company’s share price from last week.
Finally, I think I’ll be keeping an eye on the Vicinity Centres (ASX: VCX) share price this week. The Vicinity share price dropped 3.7% lower on Friday to end the week on a disappointing note.
While the ASX 200 REIT share could be volatile for some time, I think it’s worth watching. The group has a strong portfolio of retail assets including Chadstone Shopping Centre in Melbourne and Queen Victoria Building in Sydney’s CBD.
If we see restrictions continue to tighten as they have been in Victoria, the Vicinity share price could slump lower in 2020. However, more good news on the pandemic front could trigger a quick recovery for the Aussie REIT.
It’s easy to get carried away with what ASX 200 shares are doing week-to-week. While it’s great to keep on top of what’s happening, don’t forget to keep in mind that you’re investing for the long haul.