On Friday the S&P/ASX 200 Index (ASX: XJO) finished a positive week on a subdued note. The benchmark index fell 0.4% to finish the period at 7,353.5 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% higher this morning. This follows a positive end to the week on Wall Street, which saw the Dow Jones rise 0.6%, the S&P 500 climb 0.95%, and the Nasdaq push 0.7% higher.
Oil prices higher
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch after oil prices finished the week on a positive note. According to Bloomberg, the WTI crude oil price rose 1% to US$71.67 a barrel and the Brent crude oil price rose 1% to US$75.15 a barrel. Oil prices had their best week in months, rising 8% over the period as omicron concerns eased.
Iron ore price softens
The Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) shares will be on watch after the iron ore price softened. According to Metal Bulletin, the benchmark spot iron ore price edged 0.5% to US$108.03 a tonne.
Gold price higher
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could start the week on a positive note after the gold price pushed higher on Friday night. According to CNBC, the spot gold price rose 0.45% to US$1,784.80 an ounce. The gold price pushed higher
CSL acquisition coming?
The CSL Limited (ASX: CSL) share price will be on watch today amid reports the biotherapeutics company is getting closer to finalising a $10 billion deal for Swiss-based Vifor Pharma. CSL has previously been tipped to partly fund the deal with a $4 billion equity raising. Vifor Pharma is a leader in iron deficiency, nephrology and cardio-renal therapies.
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 no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. 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 Bruce Jackson.
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