On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a positive fashion. The benchmark index rose 0.25% to 7,406.2 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to push higher
The Australian share market looks set to start the week on a positive note. This follows a decent finish to week on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.45% higher this morning. On Wall Street, the Dow Jones rose 0.45%, the S&P 500 climbed 0.5%, and the Nasdaq bucked the trend by falling 0.15%.
Oil prices rise again
Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a decent start to the week after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 1.4% to US$113.90 a barrel and the Brent crude oil price rose 1.35% to US$120.65 a barrel. News of a missile attack on a Saudi Aramco facility in Jeddah boosted prices.
Endeavour shares given conviction buy rating
The Endeavour Group Ltd (ASX: EDV) share price could be great value according to analysts at Goldman Sachs. This morning the broker initiated coverage on the alcohol retailer with a conviction buy rating and $8.00 price target. Goldman believes Endeavour’s advantage in scaled consumer assets and loyalty give it an omni-channel strategy edge.
Gold price falls
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price weakened on Friday night. According to CNBC, the spot gold price fell 0.4% to US$1,959.8 an ounce. The gold price dipped after bond yields rose.
BHP dividend being paid
It’s a great day for BHP Group Ltd (ASX: BHP) shareholders on Monday. Later today the Big Australian will be paying eligible shareholders its massive $2.08 per share fully franked interim dividend. Other dividend payers include Endeavour Group and IDP Education Ltd (ASX: IEL).
The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.
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More reading
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- Why this fundie is steering clear of ASX mining shares
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 Idp Education Pty 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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