5 things to watch on the ASX 200 on Thursday

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) fought hard to record a modest gain. The benchmark index rose 0.2% to 6,810.9 points.

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

ASX 200 expected to rise

The Australian share market looks set to push higher again on Thursday despite a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.45% higher this morning. In late trade in the United States, the Dow Jones is up 0.1%, the S&P 500 is down 0.65% and the NASDAQ has dropped 1.9%.

Oil prices jump

Energy producers including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a great day after oil prices jumped on Wednesday night. According to Bloomberg, the WTI crude oil price is up 3.25% to US$88.10 a barrel and the Brent crude oil price is up 2.6% to US$95.92 a barrel. Record high US crude exports and strong refining demand boosted prices.

ANZ full year results

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price will be on watch today when the banking giant releases its full year results. According to a note out of Goldman Sachs, its analysts expect ANZ to report cash earnings of $3,309 million for the second half and $6,422 million for FY 2022. The latter will be a 3.6% increase over the prior corresponding period. This is expected to result in a 143.4 cents per share full year dividend being paid.

Mineral Resources named as a buy

The Mineral Resources Limited (ASX: MIN) share price could keep rising according to analysts at Goldman Sachs. In response to the mining and mining services company’s quarterly update, the broker has retained its buy rating with an improved price target of $80.00.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.65% to US$1,669 an ounce. The gold price hit a two-week high after the US dollar and treasury yields softened.

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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• Here are the top 10 ASX 200 shares today
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• Is the Lynas share price a buy ahead of tomorrow’s update?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

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 Scott Phillips.

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