5 things to watch on the ASX 200 on Thursday

A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements

A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had one of its best days of the year. The benchmark index rose a massive 1.65% to 6,759.2 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 is expected to fall on Thursday despite another solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 28 points or 0.4% lower this morning. On Wall Street, the Dow Jones was up 0.15%, the S&P 500 rose 0.6%, and the NASDAQ stormed 1.6% higher.

ANZ shares to return

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is scheduled to return to trade this morning. This follows the completion of the institutional component of the banking giant’s capital raising. ANZ is raising $3.5 billion at a 12.7% discount of $18.90 to fund the acquisition of the banking operations of Suncorp Group Ltd (ASX: SUN) for $4.9 billion. The bank’s plan has received a relatively mixed reaction from the market.

Oil prices tumble

Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a tough day after a poor night of trade for oil prices. According to Bloomberg, the WTI crude oil price is down 1.5% to US$102.61 a barrel and the Brent crude oil price is down 0.5% to US$106.77 a barrel. Softening US gasoline demand weighed on prices.

Gold price sinks

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a poor day after the gold price sank overnight. According to CNBC, the spot gold price is down 1% to US$1,693.4 an ounce. Improving risk sentiment and a strong US dollar put pressure on the safe haven asset.

Zip Q4 update

The Zip Co (ASX: ZIP) share price will be one to watch this morning when the buy now pay later (BNPL) provider releases its fourth quarter and full year update. According to a note out of Macquarie, its analysts are expecting Zip to report a 59.9% increase in revenue to $644.24 million for FY 2022.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

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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. has positions in and has recommended ZIPCOLTD FPO. 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 Scott Phillips.

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