5 things to watch on the ASX 200 on Thursday

Smiling man with phone in wheelchair watching stocks and trends on computer

Smiling man with phone in wheelchair watching stocks and trends on computer

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) followed Wall Street’s lead and dropped deep into the red. The benchmark index fell 0.8% to 7,307.8 points.

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

ASX 200 expected to rebound

The Australian share market is expected to rebound on Thursday despite a relatively poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 21 points or 0.3% higher this morning. In late trade in the United States, the Dow Jones is down 0.45%, the S&P 500 has fallen 0.1% and the NASDAQ is up 0.1%.

Mining giants go ex-dividend

A large number of ASX 200 shares will go ex-dividend this morning and could trade lower. This includes mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO). Last month, BHP declared a fully franked interim dividend of 130.6 cents per share. This is scheduled to hit shareholders’ bank accounts on 30 March. Whereas Rio Tinto declared a 326.5 cents per share fully franked dividend, which is expected to be paid to eligible shareholders on 20 April.

Oil prices fall again

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a tough session after oil prices dropped again on Wednesday night. According to Bloomberg, the WTI crude oil price is down 1.2% to US$76.61 a barrel and the Brent crude oil price is down 0.85% to US$82.58 a barrel. Rate hike concerns have been weighing on sentiment this week.

Carsales rated neutral

The Carsales.Com Ltd (ASX: CAR) share price is fairly priced according to analysts at Goldman Sachs. In response to its capital raising and acquisition of an additional 40% stake in Brazil’s Webmotors, the broker has retained its neutral rating with a $23.00 price target.

Gold price edges lower

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued session after the gold price edged lower. According to CNBC, the spot gold price is down a fraction to US$1,819.8 an ounce. The precious metal has come under pressure this week on rate hike fears.

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

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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 Carsales.com. 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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