Last week was a disappointing one for the S&P/ASX 200 Index (ASX: XJO). After a series of ups and downs, the benchmark index ultimately dropped 66.1 points or 1.1% to end the week at 5,859.4 points.
Another busy week is expected next week. Here are five things to watch on the ASX 200 over the five days:
ASX 200 futures pointing slightly higher.
According to the latest SPI futures, the ASX 200 is poised to start the week in the black. Current futures contracts are pointing to a small 4 point gain at the open on Monday. This follows a reasonably positive night of trade on Wall Street on Friday which saw the Dow Jones rise 0.5%, the S&P 500 edge slightly higher, and the Nasdaq fall 0.6%.
Sydney Airport traffic update.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price will be on watch on Friday when it releases its traffic numbers for the month of August. Last month the airport operator revealed that passenger numbers were down 91.8% in July compared to the prior corresponding period. I'm not expecting a major improvement on this in August due to border restrictions.
Tech shares on watch.
September certainly has been a rough month for Australian tech shares. Since the start of the month, the S&P/ASX All Technology Index (ASX: XTX) has lost 9.3% of its value. Heavy declines from the likes of Afterpay Ltd (ASX: APT) and Appen Ltd (ASX: APX) have weighed heavily on the index. Is the tech rout finally over? Judging by the Nasdaq's 0.6% decline on Friday night, it might not be over just yet. But I'm optimistic it is very close.
Premier Investments results.
Premier Investments Limited (ASX: PMV) hasn't revealed when exactly it plans to release its full year results, but traditionally it is around this time in September. Investors may want to keep an eye out for an announcement from the Smiggle and Peter Alexander operator late in the week. With the help of Job Keeper, the Premier Retail business is expected to report record full year earnings before interest and tax of between $184.8 million and $185.8 million. All eyes will be on whether the conglomerate uses the government assistance to maintain or even grow its dividend.
Shares going ex-dividend.
Speaking of dividends. Next week another group of shares will be going ex-dividend. On Monday there's investment platform provider HUB24 Ltd (ASX: HUB) and appliance manufacturer Breville Group Ltd (ASX: BRG). On Tuesday Inghams Group Ltd (ASX: ING) and Service Stream Limited (ASX: SSM) will trade ex-dividend. Then on Wednesday there's Costa Group Holdings Ltd (ASX: CGC), followed by Seven Group Holdings Ltd (ASX: SVW) on Thursday.
