On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in the red. The benchmark index fell 0.9% to 8,828.7 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set for a subdued start following weakness in European markets on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% lower. In the United States, Wall Street was closed for a public holiday, but in Europe the DAX was down 0.15%, the FTSE fell 0.35%, and the CAC dropped 0.55%.
Oil prices rise
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a decent start to the week after oil prices pushed higher on Friday night. According to Bloomberg, the WTI crude oil price was up 0.9% to US$76.54 a barrel and the Brent crude oil price was up 0.9% to US$80.57 a barrel. However, news that Iran is blocking the Strait of Hormuz again could mean oil prices climb further when Asian trade opens.
Metcash results
Metcash Ltd (ASX: MTS) shares will be on watch today when the wholesale distributor releases its full-year results. According to a note out of UBS, its analysts are expecting the company to report EBIT of $502 million and underlying net profit after tax of $268.6 million. This is broadly in line with consensus estimates and at the low-end of management’s guidance for FY 2026. However, the market’s main focus is likely to be early trading in FY 2027, with investors looking for positive commentary from management.
Gold price tumbles
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price tumbled on Friday night. According to CNBC, the gold futures price was down 1.7% to US$4,172.9 an ounce. Inflation and rate hike concerns continue to weigh on the precious metal.
Buy Life360 shares
Bell Potter has named Life360 Inc. (ASX: 360) shares as a buy this week according to The Bull. The broker stated: “Active user growth is rebounding following a technical issue, while paying circle growth, which drives revenue, recently exceeded expectations. Guidance was been upgraded. Once focus returns to paying circles, I expect a re-rating to follow.” Bell Potter has a buy rating and $33.00 price target on its shares.
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 Life360 and Woodside Energy Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has positions in and has recommended Life360. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.