5 things to watch on the ASX 200 on Monday

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 Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a mildly positive note. The benchmark index rose a fraction to 7,256.7 points.

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

ASX 200 expected to edge higher

The Australian share market is expected to edge higher this morning despite a poor finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points higher this morning. In the United States, the Dow Jones was down a fraction, the S&P 500 dropped 0.15%, and NASDAQ fell 0.35%.

ANZ shares go ex-dividend

The ANZ Group Holdings Ltd (ASX: ANZ) share price is likely to trade lower on Monday. That’s because this banking giant’s shares are trading ex-dividend this morning for its upcoming payout. Eligible shareholders can now look forward to receiving the bank’s fully franked 81 cents per share interim dividend in their nominated accounts on 3 July.

Oil prices fall

It could be a subdued start to the week for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices fell on Friday. According to Bloomberg, the WTI crude oil price was down 1.2% to US$70.04 a barrel and the Brent crude oil price dropped 1.1% to US$74.17 a barrel. Demand fears put pressure on oil prices.

Gold price edges lower

ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a soft start to the week after the gold price dropped on Friday night. According to CNBC, the spot gold price dropped 0.25% to $2,015.6 per ounce. A strong US dollar weighed on the precious metal.

QBE rated as a buy

The team at Morgans remains positive on QBE Insurance Group Ltd (ASX: QBE) shares following last week’s quarterly update. Although the broker described the quarter as a “blip”, its analysts “still see the fundamental story of QBE’s earnings improving strongly over the next few years as intact.” Morgans has an add rating and $16.50 price target on QBE’s shares.

The post 5 things to watch on the ASX 200 on Monday 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 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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