5 things to watch on the ASX 200 on Tuesday

On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week on a positive note. The benchmark index rose 0.1% to 6,962 points.

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

ASX 200 expected to rise

The Australian share market looks set to rise again on Tuesday following a solid start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 26 points or 0.4% higher. In late trade in the United States, the Dow Jones is up 0.8% and the S&P 500 is up 0.4%, but the NASDAQ is down 0.3%.

Oil prices jump

Energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a great day after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 5.2% to US$72.89 a barrel and the Brent crude oil price is up 4.1% to US$78.12 a barrel. Traders were buying oil amid a Kurdistan export halt and banking optimism.

Origin agrees takeover deal

The Origin Energy Ltd (ASX: ORG) share price will be on watch on Tuesday after the energy company accepted a takeover offer from a consortium comprising Brookfield Asset Management and MidOcean Energy. Origin has agreed to a revised deal of $5.78 per share and US$2.19 per share, which implies a total consideration of $8.912 per share. Elsewhere, United Malt Group Ltd (ASX: UMG) could return from a trading halt today with a takeover update of its own.

Gold price falls

It could be a poor day for gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) after the gold price dropped overnight. According to CNBC, the spot gold price is down 1.3% to US$1,958.1 an ounce. Improving risk sentiment appears to have softened demand for the safe haven asset.

Dividend payday

A number of popular ASX 200 dividend shares will be rewarding their shareholders with their latest dividend payments on Tuesday. This includes health supplements company Blackmores Ltd (ASX: BKL), steel producer BlueScope Steel Limited (ASX: BKL), and conglomerate Wesfarmers Ltd (ASX: WES). The latter is paying a fully franked 88 cents per share interim dividend.

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

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More reading

• Here are the top 10 ASX 200 shares today
• These are the ASX gold shares I’d buy amid the banking squeeze
• Guess which ASX 200 stock is on ice following a takeover approach
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Start building a lifelong passive income with just $5 a day

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. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers. The Motley Fool Australia has recommended Blackmores. 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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