On Tuesday the S&P/ASX 200 Index (ASX: XJO) was on form again and charged higher. The benchmark index rose 0.6% to 7,066 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 expected to fall
It looks set to be another disappointing day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 74 points or 1.05% lower this morning. This follows a poor night of trade on Wall Street which saw the Dow Jones fall 0.8%, the S&P 500 drop 0.85% and the Nasdaq fall 0.55%.
Webjet full year results
The Webjet Limited (ASX: WEB) share price will be one to watch closely on Wednesday when it hands in its full year results. The online travel agent is releasing its results today after shifting its financial year to end on 31 March. The market is expecting another large loss due to COVID-19 headwinds.
Oil prices soften
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could fall on Wednesday after oil prices softened. According to Bloomberg, the WTI crude oil price is down 1.2% to US$65.49 a barrel and the Brent crude oil price has fallen 1.05% to US$68.74 a barrel. Oil prices touched on two-month highs before giving back their gains.
EML Payments shares to return
The EML Payments Ltd (ASX: EML) share price will be one to watch this morning when it returns from its trading halt. The payments company requested a trading halt on Monday while it prepared an announcement in relation to “significant regulatory concerns” notified by the Central Bank of Ireland. These concerns relate to its Prepaid Financial Services business. Given that EML Payments has taken two full days to prepare the announcement, things don’t look good.
Gold price edges higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) will be on watch after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.1% to US$1,869.40 an ounce. The precious metal is now closing in on a four-month high.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends EML Payments. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.
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