5 things to watch on the ASX 200 on Monday

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a stunning gain. The benchmark index rose a whopping 2.8% to 7,158 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 strongly after a good session on Wall Street on Friday night. According to the latest SPI futures, the ASX 200 is expected to open the day 42 points or 0.6% higher this morning. On Wall Street, the Dow Jones was up 0.1%, the S&P 500 rose 0.9%, and the NASDAQ jumped 1.9%.

Oil prices jump

ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a great start to the week after oil prices jumped on Friday night. According to Bloomberg, the WTI crude oil price was up 2.9% to US$88.96 a barrel and the Brent crude oil price rose 2.5% to US$95.99 a barrel. Traders were buying oil after China announced that it was easing some of its COVID curbs.

Flight Centre annual general meeting

The Flight Centre Travel Group Ltd (ASX: FLT) share price will be on watch on Monday when the travel agent giant holds its annual general meeting. Flight Centre is likely to provide a trading update at the event. Investors will finally be able to see if its high level of short interest is justified or not.

Breville named as a buy

The Breville Group Ltd (ASX: BRG) share price could be great value at current levels according to Goldman Sachs. This morning the broker has reiterated its buy rating with a $23.40 price target. The broker commented: “[W]e still see strong growth in BRG with FY22-25e total revenue CAGR of ~9% and NPAT CAGR of ~12%.”

Gold price rises

Gold giants Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price rose again on Friday. According to CNBC, the spot gold price was 0.9% to US$1,769.4 an ounce during the session. A softer US dollar boosted the price of the precious metal.

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

• Here’s the good oil on what’s coming up for ASX 200 energy shares
• 3 ASX 200 lithium shares smashing all-time highs on Friday
• Here are the 3 most traded ASX 200 shares on Friday
• 4 ASX 200 shares trading ex-dividend next week
• Why are Santos shares missing out on the ASX 200 party 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 Scott Phillips.

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