On Friday, the S&P/ASX 200 Index (ASX: XJO) finished a solid week on a positive note. The benchmark index rose 0.8% to 7,177.8 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to climb
The Australian share market looks set to continue its positive run on Monday thanks to a strong finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 45 points or 0.6% higher this morning. On Wall Street, the Dow Jones was up 1.25%, the S&P 500 rose 1.45%, and the NASDAQ climbed 1.75%.
Oil prices rise
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good start to the week after oil prices rose on Friday. According to Bloomberg, the WTI crude oil price was up 1.75% to US$75.67 a barrel and the Brent crude oil price rose 1.6% to US$79.89 a barrel. The announcement of surprise production cuts from OPEC has given oil prices a boost.
ALS named as a buy
The ALS Ltd (ASX: ALQ) share price could be great value according to analysts at Goldman Sachs. This morning, the broker has initiated coverage on the testing services companyâs shares with a buy rating and $14.60 price target. This implies potential upside of 21%. It said: âALQ is positioned to benefit from short-term mining exploration and long-term green metals trends.â
Gold price pulls back
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price pulled back on Friday night. According to CNBC, the spot gold price fell 0.6% to $1,986.20 per ounce. Improving investor sentiment reduced the appeal of the safe haven asset.
Dividends being paid
A few ASX 200 shares will be paying their latest dividends on Monday. This includes financial services companies AMP Ltd (ASX: AMP) and  Insignia Financial Ltd (ASX: IFL), as well as private health insurer NIB Holdings Limited (ASX: NHF). The former is rewarding its shareholders with its first dividend in years today, It will be paying a fully franked 2.5 cents per share final dividend.
The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.
FREE Investing Guide for Beginners
Despite what some people may say – we believe investing in shares doesn’t have to be overwhelming or complicated…
For over a decade, we’ve been helping everyday Aussies get started on their journey.
And to help even more people cut through some of the confusion “experts’” seem to want to perpetuate – we’ve created a brand-new “how to” guide.
Yes, Claim my FREE copy!
*Returns as of March 1 2023
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- These were the best performing ASX 200 shares in March
- Here are the top 10 ASX 200 shares today
- Here are the 3 most heavily traded ASX 200 shares on Friday
- AMP share price slips amid expected first strike on remuneration
- Don’t stress! The stock market is ‘a long way from a crisis’
from The Motley Fool Australia https://ift.tt/G59AezM
Leave a Reply