On Thursday, the S&P/ASX 200 Index (ASX: XJO) fought hard and was able to record a small gain. The benchmark index rose 0.15% to 7,342.4 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to end the week in a disappointing fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.3% lower this morning. This is despite it being a solid night of trade on Wall Street, which late on sees the Dow Jones up 0.5%, the S&P 500 up 0.5%, and the Nasdaq pushing 0.65% higher.
BHP shareholders approve unification
The BHP Group Ltd (ASX: BHP) share price will be on watch today after the mining giant’s shareholders voted in favour of scrapping its dual listing. At the meeting, over 97% of shareholders voted for a sole listing on the Australian share market. This will see BHP become the largest company on the ASX 200.
Oil prices mixed
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch today following a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is down 0.35% to US$86.66 a barrel and the Brent crude oil price is up slightly to US$88.48 a barrel. Oil prices softened after traders took profit following some strong gains.
Gold price falls
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price edged lower. According to CNBC, the spot gold price is down 0.15% to US$1,840.70 an ounce. Traders appear undecided where gold is going next ahead of a key meeting of the US Federal Reserve next week.
Northern Star rated as a buy
The Northern Star Resources Ltd (ASX: NST) share price may have surged 11% higher yesterday but Goldman Sachs still sees significant upside potential. This morning the broker retained its buy rating and lifted its price target to $12.40. Goldman likes the gold miner due to its high-returning organic growth across all production hubs.
The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.
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More reading
- Why were Rio Tinto (ASX:RIO) and BHP (ASX:BHP) shares in the green today?
- Here are the top 10 ASX shares today
- Here are the 3 most heavily traded ASX 200 shares this Thursday
- Why Allkem, Beacon Lighting, Northern Star, and Virtus Health shares are charging higher
- Newcrest (ASX:NCM) share price regains some shine as inflation worries mount
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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