Stocks to watch as ASX reporting season continues

Mark O’Donnell Blackbull Markets Limited

Reporting season continues in Australia, with some more big names scheduled to provide financial performance updates over the remaining days of August. Among Australian stocks, players in the resources and energy industries are still generating attention as fluctuations in the prices of oil and commodities persist.

Analysts believe that Australia is in an ideal position to benefit from the implications of the global energy disruption. Likely riders to potential gains from this hypothesis are Woodside Petroleum (ASX: WPL), Santos (ASX: STO), Beach Energy (ASX: BPT), Karoon Energy (ASX: KAR) and Senex Energy (ASX: SXY).

Perhaps the most notable commodity firm to watch for is Newcrest Mining (ASX: NCM). The company was in the red last week and is considered susceptible to industry-wide inflationary pressures. However, considering the recovery of gold prices, it will be interesting to see whether the company will have similar turnaround once it discloses results on Aug. 19.

Going beyond energy and resources

Outside the resources and commodities industries, attention remains high for financial companies in Australia, although not exactly for the right reasons.

Insurance Australia Group (ASX: AIG) is in the red following its results on Aug. 12. It reported a loss attributable to shareholders of A$460 million for the six months ended June 30. As of Monday afternoon, its shares fell roughly 3%.

Medical supplier Ebos Group (ASX: EBO) is similarly on the watch list for failing to stage a recovery. It closed on the red Monday at NZ$38.65, falling nearly 1%. The company is reporting first-half results on Aug. 24. Its financial update is expected to feature the completion of its LifeHealthcare acquisition and a sneak peek into future prospects.

Over the next two weeks, other companies that will provide financial updates are Coles (ASX: COL), Woolworths (ASX: WOW) and Domino's Pizza (ASX: DMP).

Author

Mark O’Donnell

Blackbull Markets Limited

Mark O’Donnell is a Research Analyst with BlackBull Markets in Auckland, New Zealand.

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