On Thursday, the S&P/ASX 200 Index (ASX: XJO) was sold off after Russia invaded the Ukraine. The benchmark index fell 3% to 6,990.6 points.
Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to end the week with a small gain after US markets reversed their declines. According to the latest SPI futures, the ASX 200 is expected to open the day 12 points or 0.2% higher this morning. In late trade on Wall Street, the Dow Jones is down 0.65%, the S&P 500 is up 0.35%, and the Nasdaq is up 1.9%.
Medibank half year results
The Medibank Private Ltd (ASX: MPL) share price will be one to watch on Friday. This morning the private health insurer is scheduled to release its half year results. According to CommSec, the consensus estimate is for a net profit of $218 million. This will be down slightly from $226.4 million a year earlier. The market is also forecasting a 5.9 cents per share interim dividend.
Oil prices higher
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a decent day after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.9% to US$92.92 a barrel and the Brent crude oil price is up 2.4% to US$99.20 a barrel. The latter hit US$100 at one point for the first time since 2014 amid developments in Ukraine.
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 0.75% to US$1,896.30 an ounce. Gold was up as much as 3% at one stage before paring its gains.
Flight Centre given neutral rating
The Flight Centre Travel Group Ltd (ASX: FLT) share price doesn’t offer enough value for money according to the team at Goldman Sachs. This morning the broker retained its neutral rating and cut its price target to $19.50. Goldman notes that Flight Centre’s cash burn was higher than expected and has concerns that emerging geopolitical risks could dampen the recovery profile.
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
- The oil price has just hit an 8-year high. What might this mean for ASX shares?
- Even the Woodside (ASX:WPL) share price isn’t immune to today’s sell-off. Here’s why
- ASX wipes out $73 billion as Russia invades Ukraine
- Here are the top 10 ASX shares today
- 5 ASX 200 shares tumbling to 52-week lows today
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 recommended Flight Centre Travel Group Limited. 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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