5 things to watch on the ASX 200 on Friday

On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a very strong session. The benchmark index rose 1% to 7,122.3 points.

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

ASX 200 expected to rise again

The Australian share market looks set to end the week on a very positive note following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 39 points or 0.55% higher this morning. In late trade in the United States, the Dow Jones is up 0.4%, the S&P 500 is up 6%, and the NASDAQ index is up 0.8%.

Oil prices push higher

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good finish to the week after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.7% to US$74.18 a barrel and the Brent crude oil price is up 1% to US$79.09 a barrel. This was driven by lower US inventories and Iraqi supply risks.

Lithium M&A activity to continue?

Allkem Ltd (ASX: AKE) and Pilbara Minerals Ltd (ASX: PLS) shares will be on watch after Morgans suggested that they could also become takeover targets in the lithium industry. It said: “We see potential for both PLS and AKE to also be considered attractive targets. PLS offers exposure to high quality hard rock while AKE is much cheaper on a resource multiple.”

Gold price higher

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a solid finish to the week after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.8% to US$1,999.7 an ounce. Traders were buying gold on US dollar weakness and optimism that inflation is easing.

Harvey Norman goes ex-dividend

The Harvey Norman Holdings Limited (ASX: HVN) share price could take a tumble on Friday when it trades ex-dividend for the retailer’s interim dividend. Eligible shareholders can now look forward to receiving Harvey Norman’s fully franked 13 cents per share dividend in a little over a month on 1 May.

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

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More reading

• ASX shares are paying out $19 billion in dividends this week. Are you getting a piece?
• Attention lithium investors: This ASX 200 mining billionaire says Australia could become a battery chemical manufacturing powerhouse
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Citi gives its verdict on the Pilbara Minerals share price
• Why are ASX 200 gold shares like Newcrest being thumped on Thursday?

Motley Fool contributor James Mickleboro has positions in Allkem. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Harvey Norman. The Motley Fool Australia has positions in and has recommended Harvey Norman. 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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