On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with another solid gain. The benchmark index rose 0.8% to 6,945.2 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to rise again

The Australian share market looks set to start the week in a positive fashion after another strong night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 46 points or 0.7% higher this morning. On Wall Street, the Dow Jones was up 1%, the S&P 500 climbed 1.4%, and the NASDAQ stormed 1.9%.

Oil prices rise again

Energy producers Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a positive start to the week after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price rose 2.3% to US$98.62 a barrel and the Brent crude oil price climbed 2.1% to US$103.97 a barrel. This was driven by speculation that OPEC won’t boost its supply as some hoped.

Westpac shares upgraded

The Westpac Banking Corp (ASX: WBC) share price could be heading a lot higher from current levels according to analysts at Goldman Sachs. This morning the broker upgraded the banking giant’s shares to a buy rating and put them on its coveted conviction list. Goldman has a $26.12 price target on Westpac’s shares. Its analysts highlight “WBC’s NIM leverage to higher rates.”

Gold price pushes higher

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price pushed higher on Friday night. According to CNBC, the spot gold price was up 0.8% to US$1,772.50 an ounce. This was driven partly by the softening of the US dollar and meant a second successive week of gains for the precious metal.

Ramsay takeover progressing?

The Ramsay Health Care Limited (ASX: RHC) share price will be on watch amid reports that KKR’s takeover approach is progressing. In April, the private hospital operator received a non-binding $88 per share offer from the private equity giant. According to the AFR, Ramsay is believed to have received a new request for due diligence on its French business, Ramsay Sante. This is thought to be the only thing holding up a binding offer being tabled.

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

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More reading

• ASX shares are back, baby!
• Have Woolworths shares been a market-beating investment over the past 5 years?
• Why this ASX 200 giant ‘looks attractive’ right now: expert
• These were the best performing ASX 200 shares in July
• ‘Raises a whole lot of issues’: Which ASX 200 banks are still funding new fossil fuel projects?

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 Block, Inc. and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc. and Xero. The Motley Fool Australia has recommended Ramsay Health Care Limited. 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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