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. Thatâs because this banking giantâs 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 weekâs quarterly update. Although the broker described the quarter as a âblipâ, its analysts âstill see the fundamental story of QBEâs earnings improving strongly over the next few years as intact.â Morgans has an add rating and $16.50 price target on QBEâs shares.
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
- These are the best ASX 200 bank shares to buy now: analysts
- Green skies ahead: These 2 ASX 200 stocks upgraded their earnings guidance this week
- Bank of Queensland is offering the highest savings interest rate of any ASX bank. What might this mean for shareholders?
- Here are the top 10 ASX 200 shares today
- Here are the 3 most heavily traded ASX 200 shares on Friday
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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