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5 things to watch on the ASX 200 on Monday

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On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a gain. The benchmark index rose 0.4% to 8,657 points.

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

ASX 200 expected to drop

The Australian share market looks set for a poor start to the week despite a decent finish to the last one on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 58 points or 0.65% lower. In the United States, the Dow Jones was up 0.6%, the S&P 500 rose 0.35%, and the Nasdaq climbed 0.2%.

Oil prices jump

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) will be on watch after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price was up 0.25% to US$96.60 a barrel and the Brent crude oil price was up 0.95% to US$103.54 a barrel. However, US-Iran peace talk progress over the weekend could impact oil prices once Asian markets open.

SGH shares rated as a buy

Bell Potter has named SGH Ltd (ASX: SGH) shares as a buy this week. It has put a buy rating and $50.00 price target on the investment company’s shares. It was pleased with the company’s investor day event and highlights its undemanding valuation. It said: “We view SGH’s market valuation as undemanding. SGH has articulated a robust medium and long-term valuation creation framework at its FY26 Investor Day, underpinned by reasonable operational targets. Any forthcoming M&A activity would likely be well received by the market.”

Gold price slips

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price slipped on Friday night. According to CNBC, the gold futures price was down 0.45% to US$4,556.4 an ounce. This was its second weekly decline in a row amid increasing rate hike bets.

Buy GYG shares

Bell Potter thinks Guzman Y Gomez Ltd (ASX: GYG) shares are a buy. In response to news that the quick service restaurant operator is closing its US operations, the broker has upgraded GYG shares to a buy rating (from hold) with an improved price target of $24.50 (from $22.10).  It said: “We welcome the US exit as a previous overhang removed on the stock and see the switch to focusing on the core Australia opportunity as more beneficial to shareholders. We are confident in the medium term Australia opportunity, backed by a pipeline of 108 restaurants, as well as the successful master franchising operation in Singapore and Japan.”

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 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.

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