Earnings season has gone up a gear on Wednesday with a good number of ASX shares releasing results.

Among them are four ASX REITs, which have handed down their report cards. Let’s see how they performed:

BWP Trust (ASX: BWP)

The BWP share price is up 2% to $3.42. This morning, the Bunnings Warehouse-focused property company reported a 5% increase in revenue to $82.3 million and a modest increase in profits before investment property valuation changes to $57.5 million. This was underpinned by like-for-like rental growth of 4.8%. BWP will be paying an interim distribution of 9.02 cents per unit.

Centuria Industrial REIT (ASX: CIP)

The Centuria Industrial share price is up 1% to $3.35. The industrial property company posted a statutory profit of $12.2 million, compared to a loss of $45.6 million a year earlier. And while Centuria Industrial’s funds from operations (FFO) were flat at $54.1 million for the half, the company has increased its FFO per share guidance for the full year to 17.2 cents. It has also reaffirmed its FY 2024 distribution guidance of 16.0 cents per share.

Dexus Industria REIT (ASX: DXI)

The Dexus Industria share price is up over 4% to $2.90. Investors appear pleased with its like-for-like income growth of 7.3%. Management notes that this leaves it “on track to deliver FY24 guidance with HY24 Funds From Operations (FFO) per security of 8.6 cents and distributions of 8.2 cents.”

Newmark Property REIT (ASX: NPR)

The Newmark Property share price is up 1.5% to $1.33. It reported a 2.9% increase in operating earnings to $7.2 million thanks to like-for-like income growth of 3.9%. Newmark has also reaffirmed its FY 2024 distribution guidance of 7.6 cents per share. That’s if its proposed merger with BWP doesn’t complete before then. Speaking of which, this morning Newmark advised that it continues to unanimously recommend that shareholders accept the proposal.

The post 4 high-profile ASX REITS charging higher on half-year results appeared first on The Motley Fool Australia.

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• Brokers say buy these ASX 200 dividend stocks with juicy yields

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 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 Scott Phillips.

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ASX reporting season is a very interesting time. I’m going to talk about two ASX stocks that could be undervalued going into February and may impress the market.

We’ve only seen a few results so far this month, but I thought the Nick Scali Limited (ASX: NCK) report was very interesting. It was so good that the Nick Scali share price jumped 16% in response.

Nick Scali revealed that its gross profit margin increased by 360 basis points to 65.6%. Recent trading showed January 2024 written sales orders of $58.9 million were up 3.6% compared to January 2023. The retailer said the “positive momentum” of the second quarter of HY24 is continuing.

With that result in mind, I think these two businesses could also impress.

Adairs Ltd (ASX: ADH)

Adairs is one of the most similar businesses to Nick Scali on the ASX. Adairs operates Adairs, Focus on Furniture and Mocka.

If the strength of household spending is widespread, rather than just limited to Nick Scali, then Adairs’ trading update could impress.

Investors really aren’t expecting much of the business, the Adairs share price is down over 30% in the last year and it has fallen 65% from April 2021.

It’s understandable why the ASX stock has fallen so much – in an elevated cost-of-living world, some households may reduce their spending on home furnishings and furniture. But, the market may have gone too pessimistic.

The company is now only valued at 10.6 times FY24’s estimated earnings and 8 times FY25’s estimated earnings. A rise of 10% would still mean the Adairs share price has a very low price/earnings (P/E) ratio.

Wesfarmers Ltd (ASX: WES)

Wesfarmers is a diversified business with a number of different sectors, including chemicals, energy, fertilisers, retail and healthcare.

The company has already told investors that its main businesses of Kmart and Bunnings have been doing well, with households looking to find the best value on offer.

I think Kmart’s earnings could impress the market. At the ASX stock’s AGM, it said that “strong financial results have continued” at Kmart Group as it benefited from “market-leading value credentials of its Anko products, which are resonating with an increasingly wide cross-section of households.”

I’m also hopeful that the better-than-expected performance of Nick Scali could imply that house-related spending is still strong, which could suggest Bunnings may be performing well.

Bunnings is by far the biggest profit generator in the Wesfarmers stable, so seeing good profitable performance here could make the biggest difference for investors and could help support the Wesfarmers share price in the shorter-term but most importantly the long-term.

According to Commsec, the Wesfarmers share price is valued at 27 times FY24’s estimated earnings.

The post 2 ASX stocks that could explode in February appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Adairs and Wesfarmers. The Motley Fool Australia has positions in and has recommended Adairs and Wesfarmers. The Motley Fool Australia has recommended Nick Scali. 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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The National Australia Bank Ltd (ASX: NAB) share price is in the red today

Shares in the S&P/ASX 200 Index (ASX: XJO) bank stock closed yesterday trading for $32.20. In morning trade on Wednesday, shares are swapping hands for $32.01 down 0.5%.

For some context, the ASX 200 is up 0.3% at this same time.

This comes amid news of a top-level executive shakeup at the big four bank.

What’s happening with the ASX 200 bank’s CEO?

The NAB share price is dipping after the bank announced that CEO Ross McEwan will step down from the role on 2 April.

McEwan joined NAB in December 2019 to institute crucial changes following the findings of the Banking Royal Commission.

“Ross has been exactly the CEO we needed. He came in at a critical time with significant international experience and expertise,” NAB chair Philip Chronican said.

Chronican said that McEwan “has rightly been recognised as a tremendous and reliable career banker”.

He added, “He has been a stabilising force for NAB and the industry and we wish him well for the future.”

The NAB board announced that Andrew Irvine will replace McEwan as CEO and managing director. Irvine has served as NAB’s group executive business and private banking since 2020. Prior to that he was head of Canadian business banking at Canada’s oldest bank, the Bank of Montreal.

“Andrew is well suited to take NAB into its next chapter of growth and performance for our customers, colleagues and the communities we serve,” Chronican said.

Chronican added:

He has lifted our business and private banking performance and been a tireless advocate for the agricultural sector, small business and First Nations business. His expertise in digitisation, transformation and modernising has created significant benefits for how our bank operates.

“I am excited by the opportunity to lead NAB, a bank that is core to the financial needs of so many Australians and New Zealanders,” Irvine said.

He noted that he’d learned a great deal from McEwan over the past years and said, “NAB is on the right trajectory to being a better bank and I will work with my colleagues to continue executing our strategic ambitions.”

Commenting on Irvine’s appointment as NAB’s new CEO, McEwan said, “Andrew is a highly capable, internationally experienced banker who brings the right lens to us wanting to be Australia’s best relationship-driven bank.”

NAB share price snapshot

The NAB share price is up 1% over 12 months.

The ASX 200 bank stock has gained 14% over the last six months.

The post NAB share price dips as CEO steps down appeared first on The Motley Fool Australia.

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• Breaking! NAB shares (and CBA) just hit a new 52-week high
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Motley Fool contributor Bernd Struben 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 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 Scott Phillips.

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Weight-loss drugs. It’s a topic that has captivated the masses for the past two years, spearheaded by the miracle-like effects. The rising popularity of glucagon-like peptide 1 (GLP-1) agonists — dominated by Novo Nordisk’s Ozempic and Wegovy — have been a thorn in the side for Resmed Inc (ASX: RMD) shares.

At its worst, the Resmed share price plunged 35.5% in eight weeks last year. Since then, shares in the medical device maker have regained part of their former glory. Today, Resmed is trading 35% above last year’s trough at $29.30.

Maybe the market is beginning to more closely evaluate how big of an impact weight loss medication will have on demand for devices treating sleep apnea — a sleep disorder commonly experienced alongside obesity.

What better way to stay up to speed with any ramifications for Resmed than by getting direct to the source. If anything is keeping Resmed shareholders up at night, I’d take a guess it would be pharmaceutical giant Novo Nordisk — the figurative boogeyman under Resmed’s bed.

Keeping close tabs on a threat to Resmed shares

As a Resmed shareholder myself, I think it’s prudent and insightful to read the results of our largest perceived risk. As Sun Tzu put it in The Art of War, “If you know the enemy and know yourself, you need not fear the result of a hundred battles.”

Furthermore, any threat is likely to be downplayed within the Resmed community. I’d argue a more true reflection can be obtained by stepping into the dragon’s lair.

So, here are three notable takeaways from Novo Nordisk’s fourth-quarter 2023 result.

1. Weight loss application is booming

Before obesity care entered the scene, Novo Nordisk was known as a provider of treatments for people with diabetes. That is still true, with the company filling approximately 5 million GLP-1 scripts monthly in the United States for diabetes. However, weight-loss usage (or obesity care) is beginning to rival the company’s insulin sales.

As shown above, obesity care was Novo Nordisk’s fastest-growing segment in FY23, with sales surging 154%. This category is sold under the company’s Wegovy label, a repackaged formulation of the same active ingredient in Ozempic known as semaglutide.

This is notable for owners of Resmed shares. It demonstrates a strong and growing demand among people affected by obesity. Keep in mind the total estimated addressable population is currently 764 million. So, only a fraction of people are receiving treatment.

2. Beware the tablet

A point against GLP-1s highlighted by Resmed CEO Mick Farrell is the prohibitive price over a lifetime of use — requiring weekly injections. Generally, tablets are a much cheaper vector for delivery and come with fewer complications.

Novo Nordisk already makes Rybelsus, the first oral GLP-1 agonist, except its small dosage is for treating type-2 diabetes. However, the company is showing promising results for a 50-milligram version for the obesity care demographic.

Trials have yielded a weight loss of 17.4% after 68 weeks compared to a 1.8% reduction baseline, as shown above. Slated to be a once-a-day tablet for weight loss, Novo Nordisk is currently undertaking phase 3 trials.

A tablet could unlock a much bigger market for GLP-1s, making it more tolerable and cheaper. If a strong link is made to reduced sleep apnea cases, this could present a risk to Resmed shares.

3. Misuse an unlikely target

Rumours of wide use by celebrities and the broader public as a ‘get-slim-quick’ drug might well be overdone.

During the conference call, Nadim Rizk enquired about the percentage of ‘casual users’ and whether it could spark a crackdown by the Food and Drug Administration (FDA). Novo Nordisk executive VP of commercial strategy and corporate affairs, Camilla Sylvest, responded:

On the data that we have, especially from our launch in the U.S., we see from our real-world evidence that the average BMI of the people who are treated with Wegovy is approximately around a BMI of 37. This has also been confirmed in additional countries where we have launched in Europe. So that is sort of the average BMI, well above the label that we have that is BMI of 27 with comorbidities or above 30.

Averages are not always representative. However, it does suggest the medication is being prescribed appropriately.

The post Own Resmed shares? Here are 3 impactful points from the results of its feared disruptor appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. 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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There are a lot of ASX dividend stocks to choose from on the Australian share market.

But which ones could be buys for income investors this month?

Two that analysts have named as buys and tipped to pay attractive dividend yields are listed below. Here’s why they are feeling bullish on them:

GDI Property Group Ltd (ASX: GDI)

Bell Potter thinks that GDI Property is an ASX dividend stock to buy.

It is a property owner and fund manager, currently managing property investments in Greater Sydney, Brisbane, Perth, South East Queensland, and North Queensland.

Bell Potter is positive on the company’s outlook and is forecasting double-digit earnings growth over the next three years. It commented:

Despite its sector low valuation metrics, GDI offers a +10% 3yr EPS CAGR which is amongst the highest amongst our coverage while many other passive REITs are still facing CoD headwinds and declining earnings growth. With 17.5% portfolio vacancy the P&L rental risk is already on foot with limited near-term expiries which suggests en masse that there could be more earnings upside than downside risk.

It is expecting this earnings growth to underpin the payments of dividends per share of 5 cents in both FY 2024 and FY 2025. Based on the current GDI Property share price of 65.5 cents, this implies yields of 7.6% in both years.

The broker has a buy rating and 75 cents price target on its shares.

Transurban Group (ASX: TCL)

Over at Citi, its analysts think that Transurban could be an ASX dividend stock to buy this month. It is the owner of toll roads such as CityLink and Cross City Tunnel.

The broker believes that Transurban could be having a better than expected year in FY 2024. It commented:

We believe TCL’s FY24 DPS guidance of 62c is conservative and we forecast DPS of 63.4c given strong toll price growth, traffic growth on new road completions and a slower increase in debt costs in FY24 given a small proportion (c. 3%) of the debt book is maturing this year TCL is currently trading in-line with historic EV/EBITDA multiples at 22.5x, but we see upside given the strong EBITDA growth outlook (c.12% CAGR between Fy24-FY26). Retain Buy

Citi has pencilled dividends per share of 63 cents in FY 2024 and then 65 cents in FY 2025. Based on the current Transurban share price of $13.35, this will mean yields of 4.7% and 4.9%, respectively.

The broker currently has a buy rating and $15.90 price target on Transurban’s shares.

The post These ASX dividend stocks offer 20%+ total returns appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 positions in and has recommended Transurban Group. 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 Scott Phillips.

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As its name implies, the ASX 200 index is home to 200 shares for investors to choose from.

But which ones could be buys?

Well, to help narrow things down for you, I have picked out a couple of ASX 200 shares that Goldman Sachs rates very highly.

Here’s what the broker is saying about these shares right now:

Endeavour Group Ltd (ASX: EDV)

The first ASX 200 share that has been given the thumbs up by analysts at Goldman Sachs is Endeavour.

It is the drinks giant behind brands such as Dan Murphy’s, BWS, Pinnacle Drinks, Langtons, Jimmy Brings, and Paragon Wine Estates. In addition, the company has a network of 344 hotels and scalable digital platforms.

Goldman Sachs is a big fan of the company and believes its shares are good value based on its leadership position, defensive qualities, and positive outlook. It said:

Most attractive valuation amongst Staples peers: We continue to see defensiveness in the company’s Retail business with relative market share of ~35% vs COL liquor of ~13%, 5.2mn active My Dan’s members. EDV is currently trading at FY24e P/E of 18.4x with FY23-25e EPS CAGR of ~5%, which is the cheapest vs WOW, COL, WES.

The broker currently has a buy rating and $6.40 price target on the company’s shares.

Woolworths Limited (ASX: WOW)

Another ASX 200 share that has been named as a buy by analysts at Goldman Sachs is Woolworths.

It is of course Australia’s largest supermarket operator. In addition, it owns Big W and has a growing pet care business.

Goldman Sachs likes Woolworths due to its industry leadership and potential for further market share gains. This is thanks to its loyalty program and omni-channel advantage. The broker explains:

We are Buy rated (on Conviction List) on the stock as we believe the business has among the highest consumer stickiness and loyalty among peers, and hence has strong ability to drive market share gains via its omni-channel advantage, as well as pass through any cost inflation to protect its margins, beyond market expectations.

Goldman has a buy rating and $42.30 price target on its shares.

The post Why Goldman Sachs rates these ASX 200 shares as buys appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Endeavour Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. 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 Scott Phillips.

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One of the hardest parts of an investment journey is simply getting started.

It can be overwhelming to part with your hard-earned money and put it into ASX shares.

But history shows that doing so can be very rewarding. For example, over the last 30 years, the Australian share market has delivered an average return of approximately 10% per annum.

This means that if you had invested $10,000 into ASX shares three decades ago and earned the market return, it would have compounded into approximately $175,000.

And that’s just a single investment. If you had added to your holding periodically, your wealth would have ballooned further.

But if you’re still not sure, then it could be worth listening to some Warren Buffett tips to give you confidence.

He has been investing with Berkshire Hathaway (NYSE: BRK.B) since the 1960s and has seen it all. And, importantly, he has beaten the market over multiple decades.

Warren Buffett tip #1

The first Warren Buffett tip for beginner investors to think about relates to buying wonderful companies.

It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

While it would be amazing to buy a wonderful company at a dirt-cheap price, this rarely happens to the highest quality investment options.

So, don’t be afraid to buy the very best shares at a fair price. Over the long term, the returns are likely to still be superior to buying an average company at a cheap price.

Tip #2

Another thing that Warren Buffett emphasises is that you don’t have to always pick absolute winners to be successful. Just a few winners in a portfolio over time can generate significant wealth for you.

The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders.

The key is to build a balanced portfolio of high-quality ASX shares and let time and compounding do its thing.

The post Not confident to invest? I’d follow these 2 Warren Buffett tips 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. has positions in and has recommended Berkshire Hathaway. The Motley Fool Australia has recommended Berkshire Hathaway. 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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If you want to strengthen your income portfolio this month with some new additions, then it could be worth looking at the ASX dividend shares listed below that brokers rate as buys.

Here’s what they are forecasting from them:

Dexus Industria REIT (ASX: DXI)

The team at Morgans believes that Dexus Industria could be an ASX dividend share to buy.

It is a real estate investment trust primarily invested in high quality industrial warehouses located across Sydney, Melbourne, Brisbane, Perth, and Adelaide.

The broker believes its portfolio will underpin dividends per share of 16.4 cents in FY 2024 and 16.6 cents in FY 2025. Based on the current Dexus Industria share price of $2.78, this will mean dividend yields of 5.9% and 6%, respectively.

Morgans currently has an add rating and $3.18 price target on its shares.

Macquarie Group Ltd (ASX: MQG)

Another ASX dividend share that brokers are positive on is investment bank Macquarie.

While Morgan Stanley is expecting a relatively tough year in FY 2024, it is feeling upbeat about the company’s medium term outlook.

As for dividends, the broker is forecasting partially franked dividends of $6.45 per share in FY 2024 and $6.75 per share in FY 2025. Based on the current Macquarie share price of $188.33, this will mean yields of 3.4% and 3.6%, respectively.

Morgan Stanley has an overweight rating and $202.00 price target on the company’s shares.

NIB Holdings Limited (ASX: NHF)

Analysts at Goldman Sachs think that NIB could be an ASX dividend share to buy.

It is an Australian health insurance company providing health and medical insurance to over one million Australian residents.

The broker thinks it could be a good option as it “offers defensive exposure to the private health insurance sector which is experiencing favourable operating trend.”

In respect to income, the broker is expecting the private health giant to pay fully franked dividends per share of 29 cents in FY 2024 and 33 cents in FY 2025. Based on the current NIB share price of $7.98, this will mean 3.6% and 4.1%, respectively.

Goldman currently has a buy rating and $8.40 price target on its shares.

The post Brokers say these 3 ASX dividend shares are buys 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. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group and NIB Holdings. 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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There are many ways to judge whether to buy an ASX stock, but a classic and reliable metric is earnings growth.

And that’s exactly why the team at the Elvest Fund is bullish on three particular ASX shares.

All these stocks are already on the way up, thanks to their earnings trending higher:

Earnings driver #1: A huge takeover

Navigator Global Investments Ltd (ASX: NGI) recently reached a major corporate milestone.

“NGI completed the acquisition of the Strategic Portfolio (3 January) from GP Strategic and provided an assets under management (AUM) update for the quarter ended 31 December,” read an Elvest memo to clients.

The deal is a huge boost for its fortunes.

“NGI emerges from the transaction as a larger, more diversified business with a stronger balance sheet and an enhanced partnership with major shareholder, GP Strategic, a leading capital provider to US asset managers.

“The AUM update brought no surprises with Group AUM rising slightly to US$26.1 billion.”

Although sparsely covered, NGI shares are rated as strong buy by both the analysts currently surveyed on CMC Invest.

Earnings driver #2: Huge jackpots

You may have heard that last week Powerball jackpotted to a massive $200 million.

These types of headline-grabbing events are a boon for lottery services providers, such as Jumbo Interactive Ltd (ASX: JIN).

“This should aid customer acquisition, online engagement and FY24 profitability.”

The future looks bright for Jumbo Interactive, according to the Elvest memo.

“Looking ahead, specifically to FY25 and beyond, we forecast improving operating leverage as further increases in online penetration, lottery ticket price rises and flat Lottery Corporation Ltd (ASX: TLC) fees all combine to generate strong growth in Australian earnings.”

The company also has a nice side hustle going overseas.

“Equally as promising is Jumbo Interactive’s sharpened global expansion strategy, this time as a software vendor, rather than a retailer, in offshore markets.”

Earnings driver #3: Huge disasters

The arrival of El Nino late last year was meant to put an end to the flooding disasters Australia suffered over the preceding years, but this summer the calamity has continued.

As a disaster insurance claims repairer, the Elvest team noted how the Johns Lyng Group Ltd (ASX: JLG) share price rose in January.

“Johns Lyng rallied in anticipation of further growth in their contracted catastrophe (CAT) work-in-hand, reflecting the recent spate of disaster events in eastern Australia.”

But the company is not just relying on random natural events for earnings. It has other activities going on that are under their own control, such as strata work and overseas expansion.

“The business remains well positioned to grow its business as usual (BAU) earnings in both Australia and the US, and we see an upgrade to full year earnings forecasts at the 1H24 result as a possibility.”

The post 3 ASX shares predicted to enjoy ‘strong growth’ in 2024 earnings appeared first on The Motley Fool Australia.

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More reading

• $20,000 in savings? Here’s how I’d try to turn that into $1,463 a month of passive income
• Here are the top 10 ASX 200 shares today
• Why Atlantic Lithium, Johns Lyng, Pro Medicus, and WiseTech shares are rising today
• The ultimate ASX growth shares I’d buy with $7,000 right now
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor Tony Yoo has positions in Johns Lyng Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Johns Lyng Group, Jumbo Interactive, and Lottery. The Motley Fool Australia has recommended Johns Lyng Group and Jumbo Interactive. 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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On Tuesday the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled for a second day in a row. The benchmark index ended the day 0.6% lower at 7,581.6 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 expected to rebound

The Australian share market looks set for a better day on Wednesday despite a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 51 points or 0.7% higher. In late trade on Wall Street, the Dow Jones is up 0.1%, the S&P 500 has fallen 0.1%, and the Nasdaq is 0.4% lower.

Oil prices push higher

It could be a decent session for ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.9% to US$73.45 a barrel and the Brent crude oil price is up 0.95% to US$78.66 a barrel. This was driven by US tensions with Iran.

Seven Group rated as a hold

The Seven Group Holdings Ltd (ASX: SVW) share price could be close to being fully valued according to analysts at Bell Potter. This morning, the broker has retained its hold rating and $38.00 price target on the diversified investment company’s shares. It notes: “Dealer unit sales for Resource Industries in the APAC region have declined 10% and 1% YoY in the September and December 2023 quarters, respectively.”

Gold price rises

ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good session on Wednesday after the gold price rose overnight. According to CNBC, the spot gold price is up 0.45% to US$2,052.2 an ounce. A softer US dollar boosted the precious metal.

Centuria Industrial update

Centuria Industrial REIT (ASX: CIP) shares will be on watch on Wednesday when the industrial property company releases its half year results. Morgans commented: “We expect portfolio metrics to remain stable vs Jun-23. We note occupancy slightly trended up during the 1Q. WALE around 7 years.” This result could have implications for Goodman Group (ASX: GMG) shares.

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

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More reading

• Here are the top 10 ASX 200 shares today
• How the changed interest rate outlook is turbocharging shares vs. property
• ASX 200 drops as RBA leaves interest rates unchanged at 4.35%
• 7 must-see results this ASX reporting season before buying or selling
• The ASX 200 is close to all-time highs, should I sell my shares?

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group. The Motley Fool Australia has recommended Goodman Group. 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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