Last week was a reasonably subdued one for the S&P/ASX 200 Index (ASX: XJO). The benchmark index ended the period 9.8 points or 0.2% lower than where it started it at 6,167 points.
A busy five days await investors next week. Here are five things to watch:
ASX futures pointing higher.
The Australian share market looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open 18 points higher on Monday. This follows a reasonably positive end to the week on Wall Street, which saw the Dow Jones fall 0.1%, but the S&P 500 rise 0.35% and the Nasdaq push 0.4% higher.
Coles first quarter update.
The Coles Group Ltd (ASX: COL) share price will be one to watch on Wednesday when it releases its first quarter sales update. Expectations are high for the supermarket giant, with the market expecting supermarket same store sales growth of ~7% for the quarter. According to a note out of Goldman Sachs, it expects total first quarter sales of $9,365 million, up 7.7% on the prior corresponding period.
Fortescue production update.
The Fortescue Metals Group Limited (ASX: FMG) share price could be on the move on Thursday when it hands in its first quarter production update. Goldman Sachs has forecast a 10% quarter on quarter decline in iron ore shipments to 42.5MT. This is expected to be achieved with a lofty realised selling price of US$102 per tonne and a lowly unit cost of US$13.70 per tonne.
ANZ full year results.
Also on watch on Thursday will be the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price when it releases its full year results. Another note out of Goldman Sachs reveals that it expects the bank’s second half cash earnings (from continued operations) to be down 8% to $2,670 million. The broker has also pencilled in a final partially franked dividend of 40 cents per share.
Annual general meetings.
It will be another busy week of annual general meetings. Among the most notable meetings are Blackmores Limited (ASX: BKL) and Corporate Travel Management Ltd (ASX: CTD) on Tuesday. This will be followed by Super Retail Group Ltd (ASX: SUL) and Vocus Group Ltd (ASX: VOC) on Wednesday, JB Hi-Fi Limited (ASX: JBH) on Thursday, and Carsales.Com Ltd (ASX: CAR) on Friday. These companies are likely to release trading updates at their meetings.