On Thursday, the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark index rose 0.45% to 9,020.1 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set for a positive session on Friday following a strong night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 22 points or 0.25% higher this morning. On Wall Street, the Dow Jones was up 1.2%, the S&P 500 rose 1.1%, and the Nasdaq jumped 1.4%.
Oil prices rise
ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good finish to the week after oil prices rose again overnight. According to Bloomberg, the WTI crude oil price is up 0.8% to US$91.69 a barrel and the Brent crude oil price is up 0.2% to US$95.81 a barrel. Traders have been bidding oil prices higher this week following an escalation in Middle East tensions.
Shares going ex-dividend
Another group of ASX 200 shares will be going ex-dividend this morning and could trade lower. This includes auto retailer Eagers Automotive Ltd (ASX: APE), fuel retailers Ampol Ltd (ASX: ALD) and Viva Energy Group Ltd (ASX: VEA), and broadband provider Aussie Broadband Ltd (ASX: ABB). The latter will be paying a 3.6 cents per share fully franked dividend on 21 September.
Gold price jumps
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a strong finish to the week after the gold price charged higher overnight. According to CNBC, the gold futures price is up 2.4% to US$4,520.1 an ounce. Softer US dollar and bond yields gave the precious metal a lift.
Buy Paladin Energy shares
The team at Bell Potter thinks investors should be buying Paladin Energy Ltd (ASX: PDN) shares. This morning, the broker has retained its buy rating and $14.80 price target on the uranium producer’s shares. It said: “We retain our Buy recommendation. We have a positive medium- to long-term outlook for the uranium market, supported by barriers to new supply and demand growth linked to electrification, energy security and AI-related power requirements. PDN has ~56% exposure to market prices out to 2030. Production at LH continues to improve with higher-grade mined ore feeding the processing plant. PDN continues to derisk its key growth project at Paterson Lake South in Canada’s Athabasca Basin.”
The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.
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More reading
- 40 ASX shares with ex-dividend dates next week
- These 2 ASX energy shares have 18-31% upside according to Bell Potter
- 11 ASX 200 shares with reaffirmed buy ratings post-results
- What’s behind the ASX 200 rebound today?
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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Aussie Broadband. The Motley Fool Australia has recommended Aussie Broadband and Eagers Automotive Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.