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5 things to watch on the ASX 200 on Friday

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) was a strong performer for a second day in a row. The benchmark index rose 1.05% to 7,250.8 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to end the week on a positive note following a decent night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 38 points or 0.5% higher this morning. In late trade in the US, the Dow Jones is up 0.65%, the S&P 500 is up 0.7%, and the Nasdaq is up 0.7%.

Oil prices jump

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a strong finish to the week after oil prices jumped. According to Bloomberg, the WTI crude oil price is up 9.2% to US$103.77 a barrel and the Brent crude oil price is up 9.4% to US$107.34 a barrel. This comes amid warnings from the IEA that supply is expected to fall more than demand.

Megaport selldown

The Megaport Ltd (ASX: MP1) share price will be on watch today following reports that a major shareholder is selling down their holding. According to the AFR, company founder and chairman Bevan Slattery is rumoured to have sold 3 million shares at a discount of $13.05 per share. This valued the stake at $40 million. The Megaport share price was fetching $14.14 at the close of play yesterday.

Gold price rebounds

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a good finish to the week after the gold price rebounded. According to CNBC, the spot gold price is up 1.7% to US$1,941.10 an ounce. Demand for safe haven assets boosted the precious metal.

Carsales goes ex-dividend

The Carsales.Com Ltd (ASX: CAR) share price could end the week in the red. That’s because this morning the auto listings company’s shares are trading ex-dividend for its fully franked 25.5 cents per share interim dividend. This dividend will then be paid to eligible shareholders next month on 19 April. Hub24 Ltd (ASX: HUB) shares are also trading ex-dividend today.

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