The ASX 200 last week was a story of elections, a gold rush, and more takeovers. This week could be about AGMs, an IPO and building approvals.
The post 5 notable events on the ASX 200 this week appeared first on Motley Fool Australia. –
Last week the US election caused all sorts of market turbulence for the S&P/ASX 200 Index (ASX: XJO). Friday saw rumours of another takeover, this time of Tabcorp Holdings Limited (ASX: TAH). Forcing its share price up by 15.8%. The week also saw candle seller, Dusk Group Ltd (ASX: DSK) list on the ASX and finish the week 1.7% higher.
The week finished on a solid rise for gold stocks. This helped push the Bellevue Gold Ltd (ASX: BGL) share price up by 19.9% over the week. While Ramelius Resources Limited (ASX: RMS) finished the week with its share price 16.75% higher.
Let’s look at 5 events coming up for the ASX 200 this week. All times are Australian Eastern Standard Time (AEST)
ASX 200 events this week
At 11.30am, the Australian Bureau of Statistics (ABS) will release the building approvals for September. This is always a closely read report as it provides an insight into the general direction of traffic in the economy itself. It has shown a good recovery in recent months but is likely to reflect the Victorian lockdown during September.
At 9am, James Hardie Industries plc (ASX: JHX) will release second quarter results and a shareholder briefing. This ASX 200 share finishes its year in March, 2021. At the company AGM, chairman Michael Hammes said he believed the company entered the COVID-19 pandemic in a strong position and would emerge from the crisis in even better shape, driving profit growth that will outstrip the broader market.
At 10.30am, ASX 200 gold miner Newcrest Mining Limited (ASX: NCM) will hold its AGM including first quarter results. Newcrest has recently re-listed on the Toronto Stock Exchange and has benefited from the high gold price. The company will also update shareholders on its recent acquisition Red Chris. Furthermore, the Lihir gold mine suffered a 14% production loss in the June quarter due to equipment and maintenance issues. A $61 million CAPEX spending program was signed off in October.
At 10am, Hipages Group Holdings Limited (ASX: HPG) will list on the ASX for the first time. Hipages is an online trade services platform. The Australian reported that it has exceeded its offer size at the top end of its price range of $2.05-$2.45 a share. The company will list with a market capitalisation of between $266.5 million and $318.5 million.
Also at 10am, Breville Group Ltd (ASX: BRG) will hold its AGM. In October, the ASX 200 company announced its acquisition of a US manufacturer of coffee grinding machines, Baratza. UBS believes this will be approximately 3% earnings accretive from the 2022 financial year. In addition, analysts say the company is likely to benefit from increased consumer spending in the federal budget.
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Motley Fool contributor Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.