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Next Week At A Glance
BY GREG PEEL - 18/05/2018 | VIEW MORE ARTICLES FROM FNARENA NEWS

Today’s trading notwithstanding, we enter next week with an ASX200 apparently not about to crash through 6100 but as yet reluctant to breach the post-GFC high of 6135. Allowing a bit of licence on the downside, the index has now been stuck in that range since May 3 with no apparent drivers on the horizon, others than those unforeseen.

At the individual stock level there’s still quite a bit going on, although corporate events now begin to dwindle as we approach the typical “blackout” period leading in and out of EOFY. What we will see from here – and there’s already been one or two – are unscheduled updates bringing profit warnings as we enter the traditional “confession session”.

Rarely do companies “confess” to a pending earnings result that will beat expectations, although it does happen (see CSL ((CSL)) today).

Next week brings more out-of-cycle earnings reports, in this case from TechnologyOne ((TNE)) and Aristocrat Leisure ((ALL)), with a quarterly result from James Hardie ((JHX)).

AGMs will be held by Boart Longyear ((BLY)), Alumina ltd ((AWC)), Beadell Resources ((BDR)), Spark Infrastructure ((SKI)), Westfield ((WFD)), Gold Road Resources ((GOR)) and Sydney Airport ((SYD)).

Investor days will be hosted by Seven Group Holdings ((SVW)) and Woodside Petroleum ((WPL)) while Blackmores ((BKL)) will host an analyst meeting.

The only major local economic release next week is March quarter construction work done, which feeds into the ultimate GDP release in June.

US economic releases next week include the Richmond Fed index and Chicago Fed national index, new and existing home sales and house prices, durable goods, consumer sentiment and a flash estimate of the May manufacturing PMI.

Japan and the eurozone will also flash.

The minutes of the last Fed meeting are due on Wednesday.



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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