On Friday, the S&P/ASX 200 Index (ASX: XJO) finished a relatively flat week in the red. The benchmark index fell 0.5% to 8,796.7 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set for a good start to the week despite a poor session on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 55 points or 0.6% higher. In the United States, the Dow Jones fell 0.75%, the S&P 500 dropped 1%, and the Nasdaq sank 1.4%.
Oil prices jump
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a strong start to the week after oil prices jumped on Friday night. According to Bloomberg, the WTI crude oil price was up 4.5% to US$81.49 a barrel and the Brent crude oil price was up 4.6% to US$88.10 a barrel. Traders were bidding oil prices higher in response to an escalation in US-Iran tensions.
Buy WiseTech shares
WiseTech Global Ltd (ASX: WTC) shares are seriously undervalued according to analysts at Bell Potter. This morning, the broker has retained its buy rating and $71.75 price target on the logistics software provider’s shares. It commented: “We believe the stock looks value on an FY27 EV/EBITDA multiple of c.15x and is trading at an excessively large discount to the Technology One multiple of c.27x. We note WiseTech has higher forecast earnings growth than Technology One over the next few years given the expected margin recovery post the e2open acquisition.”
Gold price rises
It could be a decent start to the week for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price rose on Friday night. According to CNBC, the gold futures price was up 0.65% to US$4,018.8 an ounce. This couldn’t stop the gold price from recording a weekly decline on increased US interest rate bets.
Hold BHP shares
Morgans thinks that BHP Group Ltd (ASX: BHP) shares are around fair value right now. In response to its quarterly update, the broker has retained its hold rating and $60.20 price target on the mining giant’s shares. It said: “A good end to FY26 for BHP, with an operational result largely in line with consensus and a touch ahead of our estimates in places. […] Best-in-breed global diversified miner in what remains a healthy upcycle for resources. We maintain our HOLD rating and A$60.20 target price.”
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 WiseTech Global and Woodside Energy Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.