5 things to watch on the ASX 200 on Monday

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a positive fashion. The benchmark index rose 0.2% to 7,151.8 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 with another gain after a decent session on Wall Street on Friday night. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% higher this morning. On Wall Street, the Dow Jones was 0.6%, the S&P 500 rose 0.5%, and the NASDAQ traded flat.

Oil prices tumble

ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor start to the week after oil prices tumbled on Friday night. According to Bloomberg, the WTI crude oil price was down 1.9% to US$80.08 a barrel and the Brent crude oil price fell 2.4% to US$87.62 a barrel. Traders were selling oil due to concerns about weakened demand in China and further increases to U.S. interest rates.

Link’s Pexa stake update

The Link Administration Holdings Ltd (ASX: LNK) share price will be on watch on Monday after the administration company announced the sale of 10% of its stake in PEXA Group Ltd (ASX: PXA). Link sold the shares for a discount of $13.50 per share and intends to use the proceeds to repay borrowings. It now plans to distribute the remainder of its holding to shareholders via an in-specie distribution in January.

Altium given neutral rating

The Altium Limited (ASX: ALU) share price will be in focus today after Goldman Sachs initiated coverage on the electronic design software company with a neutral rating and $42.00 price target. Goldman said: “We initiate at Neutral, given balanced risk/reward.” The broker also set out its bull case with a $66 valuation and bear case with a $29 valuation.

Gold price falls

Gold shares such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a tough start to the week after the gold price fell on Friday. According to CNBC, the spot gold price was down 0.5% to US$1,769 an ounce during the session. The prospect of higher interest rates weighed on 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

• Time to buy? Which ASX 200 shares are trading on single-digit P/E ratios?
• Why did ASX 200 gold shares lag the index today?
• Why did the Woodside share price lag the ASX 200 today?
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Friday

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 Altium, Link Administration Holdings Ltd, and PEXA Group Limited. 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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