On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a disappointing decline. The benchmark index fell 0.6% to 8,565.2 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to rise on Tuesday despite a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 23 points or 0.25% higher. In late trade in the United States, the Dow Jones is down 0.65%, the S&P 500 is 0.4% lower, and the Nasdaq has fallen 0.3%.
Oil prices charge higher
It could be a good session for ASX 200 energy shares Karoon Energy Ltd (ASX: KAR) and Santos Ltd (ASX: STO) after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 1.35% to US$59.33 a barrel and the Brent crude oil price is up 1.3% to US$63.20 a barrel. This was driven by supply concerns following an attack on a Black Sea terminal.
Collins Foods half year results
Collins Foods Ltd (ASX: CKF) shares will be on watch today when the quick service restaurant operator releases its half year results. A strong result is expected from the KFC operator, with management guiding to “year-on-year FY26 Group underlying NPAT (post AASB 16) growth in the low to mid-teens” on a percentage basis. KFC Australia same store sales are expected to increase 2.1% during the first half.
Hold Imdex shares
Imdex Ltd (ASX: IMD) shares are a fairly valued according to analysts at Bell Potter. This morning, the broker has retained its hold rating on the mining product technology solutions provider’s shares with a trimmed price target of $3.60 (from $3.80). It said: “Our Target Price is lowered to $3.60/sh after applying a higher WACC 8.7% (previously 7.8%). Value accretion from the ALT and MSI acquisitions is dependent on meaningful incremental revenue generation over the three year period post deal completion. For example, achieving 25% of the incremental revenue share earn-out cap (our base case) should deliver an implied acquisition multiple of 7.1x (EV / FY28 EBITDA), less than IMD’s 9.6x (in FY28). Implied upfront valuation multiple is closer to 20.6x FY26 EBITDA.”
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Ramelius Resources Ltd (ASX: RMS) could have a decent session on Tuesday after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.4% to US$4,271.5 an ounce. Gold hit a six-week high on increased US rate cut bets.
The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.
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More reading
- Why did Bell Potter just lower its view on these two ASX All Ords stocks?
- Here are the top 10 ASX 200 shares today
- These ASX 200 shares rocketed 10%+ higher in November
- 5 things to watch on the ASX 200 on Monday
- ASX 200 tech shares fight back after 10 weeks of decline
Motley Fool contributor James Mickleboro has positions in Collins Foods. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Imdex. The Motley Fool Australia has recommended Collins Foods. 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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