The S&P/ASX 200 Index (ASX: XJO) was able to continue its impressive run last week, but only just. The benchmark index rose just 0.1% over the five days to end the week at 6,642.6 points.
Another busy week is expected next week. Here are five things to watch:
Image source: Getty Images
ASX futures pointing slightly lower.
The Australian share market looks set to start the week ever so slightly in the red. According to the latest SPI futures, the ASX 200 is poised to open the week 1 point lower on Monday. This follows a mixed night of trade on Wall Street on Friday. The Dow Jones rose 0.15%, the S&P 500 fell 0.15%, and the Nasdaq dropped 0.2%.
US approves Pfizer COVID-19 vaccine.
Investor sentiment could be given a boost next week following news that the US FDA has given its authorisation for the emergency use of Pfizer's COVID-19 vaccine. According to CNBC, the FDA's emergency use authorisation will allow the federal government's distribution of the potentially lifesaving vaccine across the country immediately. In fact, on Friday night, the government revealed plans to distribute 2.9 million doses of the vaccine within 24 hours. This will be followed by an additional 2.9 million doses 21 days later for patients to get their second shot.
Kogan to join the ASX 200.
S&P Dow Jones Indices has announced its quarterly rebalance of the S&P/ASX Indices. Two new additions have been announced for the ASX 200, effective at the open of trading on December 21. Those companies are online retailer Kogan.com Ltd (ASX: KGN) and plumbing parts company Reece Ltd (ASX: REH). Heading out of the index are three shares, due to the index currently having 201 shares following a demerger. These are Avita Therapeutics Inc (ASX: AVH), Cooper Energy Ltd (ASX: COE), and Western Areas Ltd (ASX: WSA).
ANZ and NAB annual general meetings
The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price will be on watch on Wednesday when it holds its annual general meeting (AGM). The banking giant could provide investors with an update on current trading and its COVID-19 loan deferrals. This will be followed by the National Australia Bank Ltd (ASX: NAB) AGM on Friday.
More AGMs.
It isn't just the banks that are holding their AGMs next week. A number of agriculture-focused companies will be holding their meetings as well. This includes Elders Ltd (ASX: ELD) on Thursday and then Incitec Pivot Ltd (ASX: IPL) and Nufarm Ltd (ASX: NUF) on Friday.
