5 things to watch on the ASX 200 on Thursday

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form and recorded a small gain. The benchmark index rose 0.2% to 7,729.4 points.

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

ASX 200 expected to rise again

The Australian share market looks for a positive session on Thursday despite a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.5% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.1%, but the S&P 500 has fallen 0.25% and the Nasdaq is down 0.55%.

Oil prices rise

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good session after oil prices stormed higher overnight. According to Bloomberg, the WTI crude oil price is up 2.9% to US$79.81 a barrel and the Brent crude oil price is up 2.7% to US$84.13 a barrel. Oil prices rose after Ukraine hit Russian oil refineries.

Sell Core Lithium shares

Core Lithium Ltd (ASX: CXO) shares are a sell according to Goldman Sachs. This morning, the broker has retained its sell rating on the lithium miner’s shares with a trimmed price target of 13 cents. This follows the release of the company’s half-year results. It said: “We note that with the mining contract terminated and notice given on the processing contract, we expect that a near-term restart of the Finniss operation is increasingly unlikely.”

Gold price rebounds

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good session after the gold price rebounded overnight. According to CNBC, the spot gold price is up 0.6% to US$2,179 an ounce. A softer US dollar boosted the precious metal.

ASX 200 shares going ex-dividend

Another group of ASX 200 shares will be going ex-dividend this morning and could trade lower. This includes appliance manufacturer Breville Group Ltd (ASX: BRG), auto retailer Eagers Automotive Ltd (ASX: APE), poultry producer Inghams Group Ltd (ASX: ING), and telco TPG Telecom Ltd (ASX: TPG).

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

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More reading

• Here are the top 10 ASX 200 shares today
• Why Core Lithium, Jupiter Mines, Newmont, and Perpetual shares are dropping today
• At $29, I think the Woodside share price could be 20% undervalued!
• Core Lithium shares crash 9% after posting massive half-year loss
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Eagers Automotive Ltd. 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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