5 things to watch on the ASX 200 on Monday

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a positive fashion. The benchmark index rose 0.75% to 8,729.8 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 for a subdued start to the week despite a relatively good finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.25% lower. In the United States, the Dow Jones was down 0.3%, but the S&P 500 rose 0.3% and the Nasdaq charged 0.9% higher.

Oil prices fall

ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor session after oil prices tumbled on Friday night. According to Bloomberg, the WTI crude oil price was down 3% to US$101.94 a barrel and the Brent crude oil price was down 2% to US$108.17 a barrel. This appears to have been driven by news that Iran has sent over a new peace deal proposal to the US.

NAB half-year results

All eyes will be on National Australia Bank Ltd (ASX: NAB) shares today when the big four bank becomes the latest to release its half-year results. According to a note out of Citi, its analysts are expecting the banking giant to report a first-half cash profit of $3.8 billion. This is a touch lower than the consensus estimate due to its belief that bad debt charges will be higher than expected.

Gold price rises

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a decent start to the week after the gold price pushed higher on Friday night. According to CNBC, the gold futures price was up 0.35% to US$4,644.5 an ounce. This couldn’t stop the precious metal from recording another weekly decline amid inflation and rate hike concerns.

Buy Develop Global shares

The team at Bell Potter thinks investors should be buying Develop Global Ltd (ASX: DVP) shares for exposure to the mining sector. This morning, the broker has retained its buy rating and $6.60 price target on the mining and mining services company’s shares. Speaking about the Pioneer Dome development, which has been expedited given the strength in lithium commodity prices, the broker said: “Pioneer Dome’s importance lies in its ability to provide timely liquidity for the Group, supporting de-leveraging and financing of Sulphur Springs construction. The resulting financial flexibility would allow DVP to act nimbly on any forthcoming organic and inorganic opportunities.”

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

More reading

• What happened with ASX 200 banks stocks NAB and CBA in April?
• ASX 200 energy shares lead and market finally cracks 8-day losing streak
• Why did ASX 200 energy stocks like Woodside and Santos struggle in April?
• These ASX financial stocks are bouncing, is it just the start?
• 3 ASX dividend stocks with 4% yields to buy for a winning income portfolio

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.