5 things to watch on the ASX 200 on Monday

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a relatively positive note. The benchmark index rose 0.1% to 7,767.5 points.

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

ASX 200 expected to fall

The Australian share market looks set to fall on Monday following a poor finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 35 points or 0.45% lower. In the United States, the Dow Jones was down 0.1%, the S&P 500 was 0.4% lower, and the Nasdaq dropped 0.7%.

Oil prices soften

It looks like ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued start to the week after oil prices softened on Friday. According to Bloomberg, the WTI crude oil price was down 0.25% to US$81.54 a barrel and the Brent crude oil price was down 0.3% to US$85.00 a barrel. This couldn’t stop US crude oil from recording its third weekly gain amid rising tensions in the Middle East.

Buy TechnologyOne shares

Goldman Sachs thinks that TechnologyOne Ltd (ASX: TNE) shares are in the buy zone right now. After looking at the enterprise software provider’s opportunity in the UK market, the broker has reiterated its buy rating with an improved price target of $19.70 (from $18.85). It said: “The UK addressable market is 2-3x ANZ, with minimal current penetration (<1% wallet share) and a similar competitive dynamic to ANZ, creating a significant long-term growth runway for TNE.”

Gold price edges higher

It could be a relatively positive start to the week for ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price edged higher on Friday. According to CNBC, the spot gold price was up 0.1% to US$2,339.6 an ounce. This was driven by rate cut optimism after US inflation came in as expected.

IGO’s lithium dividend

IGO Ltd (ASX: IGO) shares will be on watch today after the battery materials miner released an update on its lithium business. According to the release, the company has received $159.3 million in dividend payments from Tianqi Lithium Energy Australia (TLEA) for the June 2024 quarter. This brings total dividends received from TLEA during FY 2024 to $761.4 million. IGO CEO, Ivan Vella, commented: “The substantial dividend IGO has received from TLEA during FY24, during a period of heightened market volatility and complexity, is testament to the value our lithium business can generate through the cycle.”

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 positions in Technology One and Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Technology One. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.