This week is shaping up to be less controversial than last week on the S&P/ASX 200 Index (ASX: XJO). It should be somewhat less eventful after the contentious AGMs of Crown Resorts Ltd (ASX: CWN), Qantas Airways Limited (ASX: QAN), and the Q3 update from AMP Limited (ASX: AMP) we saw last week.
Nevertheless, there are still some very interesting events coming up on the ASX this week. Some of these are due to recent developments, while others will provide an insight into companies known to be impacted by the pandemic. The following covers off just some of what is happening among ASX 200 shares this week. It is however, by no means a definitive list of all AGMs and events this week and, for example, excludes pending announcements from National Australia Bank Ltd. (ASX: NAB), South32 Ltd (ASX: S32), and St Barbara Ltd (ASX: SBM).
5 ASX 200 events this week
At 10.30am on Tuesday, Boral Limited (ASX: BLD) will hold its AGM. The troubled ASX 200 company is currently in the midst of a turnaround attempt and has had a turbulent 2020. The company has installed a new CEO, Zlatko Todorcevski. Meanwhile, current chair, Kathryn Fagg, has announced she will retire from the company in 2021.
The chair is retiring partially due to the role she played in the acquisition of Headwaters in the United States, resulting in a $1.2 billion write down. Moreover, there are questions over her plan to allow two Seven Group Holdings Ltd (ASX: SVW) executives to join the board after Seven raised its ownership stake in Boral to 19.9%.
Investors will also be looking for an update on Boral’s portfolio review. With the number of Seven Group directors reduced back to one, it is unlikely the AGM will be contentious.
At 11.00am, Bendigo and Adelaide Bank Ltd (ASX: BEN) will hold its AGM. Investors may be interested in the benefits to shareholders of the tie up with Tyro Payments Ltd (ASX: TYR) in merchant transactions. The ASX 200 bank’s AGM will also provide an indication of its performance in Q1 and anticipated recovery from the pandemic.
At 11.30am, Link Administration Holdings Ltd (ASX: LNK) will hold its AGM. This promises to be a very interesting event. The company is presently fending off a $2.8 billion non binding proposal. It has rejected the offer as undervaluing the ASX 200 company. Moreover, it is considering a demerger of its shareholding in property transaction company, PEXA.
At 11:30am, the Australian Bureau of Statistics will release the Q3 consumer price index (CPI). This will provide investors with an idea of the scale of the repair underway to the Australian economy. For example, the June quarter report carried news of a -95.0%. fall in child care costs. The results of the CPI report will likely influence share prices across several ASX 200 companies.
At 10.30am, ASX 200 company JB Hi-Fi Limited (ASX: JBH) will hold its AGM. Investors will be looking at the Q1 results as a guide to whether the company can continue the high volume of sales achieved during the pandemic. I’ll also be mindful to exclude the effects of Victoria’s extended lockdown on JB’s results.
The company recorded an exemplary 33.2% growth in underlying net profit after tax between FY19 and FY20. In addition, online sales grew 56.6% year on year. This sets a high bar for the future.
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Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Link Administration Holdings Ltd and Tyro Payments. The Motley Fool Australia has recommended Link Administration Holdings Ltd. 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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