On Friday, the S&P/ASX 200 Index (ASX: XJO) finished a solid week in style. The benchmark index rose 0.6% to 7,279.5 points.

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

ASX 200 expected to edge lower

The Australian share market is expected to edge lower this morning following a poor finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points lower on Monday. In the United States, the Dow Jones was down 0.3%, the S&P 500 dropped 0.15%, and NASDAQ fell 0.25%.

Oil prices fall

It looks set to 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 0.4% to US$71.55 a barrel and the Brent crude oil price dropped 0.4% to US$75.58 a barrel. Concerns about the US debt ceiling weighed on prices.

ASX 200 lithium shares on watch

There will be plenty of eyes on ASX 200 lithium shares such as Core Lithium Ltd (ASX: CXO) and Pilbara Minerals Ltd (ASX: PLS) on Monday. That’s because lithium giant Sociedad Quimica y Minera de Chile (NYSE: SQM) released its first-quarter update on Friday and revealed softer profits. This was due to high stockpiles across the battery supply chain hitting demand.

Gold price charges higher

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a strong start to the week after the gold price charged higher on Friday night. According to CNBC, the spot gold price rose 1% to $1,979.9 per ounce. Renewed banking sector concerns boosted demand for the safe haven asset.

Silver Lake makes new offer

Fellow gold shares St Barbara Ltd (ASX: SBM) and Silver Lake Resources Ltd (ASX: SLR) will also be on watch after the latter improved its takeover offer for the former’s Leonora assets. Silver Lake has increased its offer to $722 million. This comprises 327.1 million shares (valued at $352 million) and a cash component of $370 million cash (previously $326 million). The suitor notes that this proposal represents a significant premium to the revised Genesis transaction.

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

• Top brokers name 3 ASX shares to buy next week
• Could another lithium price boom be around the corner? Experts weigh in
• If I invest $10,000 in Pilbara Minerals shares, how much passive income will I receive?
• Here’s what the latest jobs data could mean for interest rates and the Aussie stock market
• 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.

from The Motley Fool Australia https://ift.tt/JhvIVRs

• Stock Market