On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had another good day and charged higher. The benchmark index rose 0.5% to 7,377.9 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to give back its gains on Thursday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 45 points or 0.6% lower this morning. In late trade on Wall Street, the Dow Jones is down 1%, the S&P 500 is down 0.9%, and the Nasdaq has tumbled 1%.
Brickworks half year results
The Brickworks Limited (ASX: BKW) share price will be in focus today when the building products company releases its half year results. According to a recent note out of Citi, its analysts are expecting Brickworks to report underlying earnings before interest and tax (EBIT) of $321 million. Looking ahead, the broker suspects the company will outperform expectations for the full year thanks partly to profits from its investment in New Hope Corporation Limited (ASX: NHC).
Oil prices jump
It could be a good day for energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 5% to US$114.78 a barrel and the Brent crude oil price is up 5.3% to US$121.61 a barrel. Disruption to the Caspian pipeline has caused more supply concerns.
Uniti bidding war?
The Uniti Group Ltd (ASX: UWL) share price is likely to return from a trading halt this morning. The telco’s shares surged higher on Wednesday afternoon before being halted. This was amid speculation, which has yet to be confirmed, that Macquarie Group Ltd (ASX: MQG) is making a competing $5.00 per share takeover offer. This follows the receipt of a $4.50 cash per share from Morrison & Co last week.
Gold price rises
It could be a good day for gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) after the gold price stormed higher. According to CNBC, the spot gold price is up 0.95% to US$1,939.4 an ounce. Concerns over the Ukraine crisis and inflation boosted the safe haven asset.
The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.
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More reading
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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. owns and has recommended Brickworks. The Motley Fool Australia owns and has recommended Brickworks. The Motley Fool Australia has recommended Macquarie Group Limited and Uniti 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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