On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a disappointing note. The benchmark index fell 0.9% to 7,346.8 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 futures largely flat
The Australian share market looks set to have a subdued session on Monday following another mixed finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day a single point lower this morning. On Wall Street, the Dow Jones was up 0.4% but the S&P 500 fell 0.3% and the NASDAQ dropped 0.6%.
Oil prices tumble
ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a tough start to the week after oil prices tumbled on Friday. According to Bloomberg, the WTI crude oil price was down 2.7% to US$76.34 a barrel and the Brent crude oil price fell 2.5% to US$83.00 a barrel. This was driven by concerns that interest rate hikes could weigh on demand and comes at a time of mounting signs of ample crude and fuel supply.
A2 Milk half year results
The A2 Milk Company Ltd (ASX: A2M) share price will be one to watch on Monday when the infant formula company releases its highly anticipated half year results. According to CommSec, the market is expecting the company to return to form in FY 2023 and report a first half net profit after tax of NZ$60.6 million. No dividend is expected to be paid, but A2 Milk is sitting on a huge cash balance, so it cannot be ruled out.
Bendigo and Adelaide Bank results
The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price will be one to watch closely. This morning, the regional bank is scheduled to release its half year results. According to a note out Goldman Sachs, its analysts expect cash earnings growth of 7.9% to $281.3 million. This will be ahead of consensus estimate of $275.2 million. The broker also expects an interim 32 cents per share dividend, compared to the consensus estimate of 29 cents per share.
Gold price softens
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price softened on Friday night. According to CNBC, the spot gold price edged a fraction lower to $1,851.30 per ounce. This led to the precious metal recording its third weekly decline in a row.
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 are the top 10 ASX 200 shares today
- Brokers name 3 ASX shares to buy now
- Why A2 Milk, Piedmont Lithium, QBE, and Super Retail shares are racing higher
- Santos share price edges lower amid allegations of disastrous deception
- Should I pour in and buy A2 Milk shares before the ASX 200 company reports on Monday?
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 positions in and has recommended Bendigo And Adelaide Bank. The Motley Fool Australia has recommended A2 Milk. 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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