5 things to watch on the ASX 200 on Thursday

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) carved out a small gain. The benchmark index rose 0.1% to 7,733.5 points.

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

ASX 200 expected to rise

The Australian share market looks for a positive session on Thursday following a rebound on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 32 points or 0.4% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.1%, the S&P 500 has risen 0.45%, and the Nasdaq is 0.6% higher.

Oil prices rise

ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good session after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 1.55% to US$79.36 a barrel and the Brent crude oil price is up 1.4% to US$83.14 a barrel. Rising gasoline demand and rate cut hopes boosted prices.

Buy REA shares

Rea Group Ltd (ASX: REA) shares are a buy according to Goldman Sachs. This morning, the broker has retained its buy rating with a $201.00 price target. Commenting on Premiere Plus price increases, it said: “Overall these P+ price rises appear stronger than we (and consensus) had anticipated (GSe +8%, with depth/mix contributing to our +11% yield growth in FY25, VAe consensus yield growth implied +11%) supporting our FY25 EBITDA growth of +18%.”

Gold price rise

It could be another decent session for ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price rose again overnight. According to CNBC, the spot gold price is up 0.4% to US$2,150.8 an ounce. Rate cut bets are starting to gain ground.

BHP goes ex-dividend

The BHP Group Ltd (ASX: BHP) share price could trade lower today. That’s because the mining giant’s shares are scheduled to trade ex-dividend this morning for its next dividend. Eligible shareholders can now look forward to receiving its 110 cents per share interim dividend later this month on 28 March.

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

• Would Warren Buffett buy ASX shares in a raging bull market?
• Here are the top 10 ASX 200 shares today
• How will today’s GDP numbers hit the ASX (and interest rates)?
• Is it too late to join the booming ASX gold rush?
• 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 and REA Group. The Motley Fool Australia has recommended REA Group. 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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