5 things to watch on the ASX 200 on Thursday

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed slightly higher. The benchmark index rose 0.2% to 7,050.3 points.

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

ASX 200 expected to jump

The Australian share market is expected to have a strong session on Thursday after Wall Street charged higher. According to the latest SPI futures, the ASX 200 is expected to open the day 51 points or 0.7% higher this morning. In late trade in the United States, the Dow Jones is up 1%, the S&P 500 has risen 1.45%, and the NASDAQ is up 1.85%.

Pilbara Minerals rated neutral

Analysts at Goldman Sachs continue to sit on the fence when it comes to Pilbara Minerals Ltd (ASX: PLS) shares. Despite having a price target of $4.80, which implies over 20% upside, the broker has reiterated its neutral rating this morning. It commented: “We rate PLS a Neutral on: 1) Valuation at ~1.1x NAV (peer average ~1.1x), or pricing ~US$1,080/t, 2) Strong production growth of ~3x to FY26E, and 3) Growing cash balance supports further growth opportunities and capital management.”

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a subdued session after oil prices dropped on Wednesday night. According to Bloomberg, the WTI crude oil price is down 0.4% to US$72.90 a barrel and the Brent crude oil price is down 0.5% to US$78.27 a barrel. Traders appear undecided over how tight supply levels are.

ASX 200 shares going ex-dividend

A number of ASX 200 shares are going ex-dividend on Thursday and could trade lower. This includes popular property companies such as Arena REIT (ASX: ARF), Centuria Industrial REIT (ASX: CIP), Charter Hall Long WALE REIT (ASX: CLW), and Cromwell Property Group (ASX: CMW).

Gold price falls

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a tough session after the gold price fell overnight. According to CNBC, the spot gold price is down 0.5% to US$1,980.7 an ounce. Demand for safe haven assets weakened as equities charged higher.

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

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• To pause or not to pause? Here are the predictions on next week’s RBA rate decision
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why ALS, Centaurus Metals, Pilbara Minerals, and Westgold shares are rising today
• ASX 200 turns green on softer-than-expected inflation data

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.

from The Motley Fool Australia https://ift.tt/9amrWT7