NEWS. RESOURCES. DADVICE. THE HOME OF MEN-TERTAINMENT

5 things to watch on the ASX 200 on Monday

SHARE

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished a very strong week in a positive fashion. The benchmark index rose 0.6% to 7,294.4 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 strong finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 59 points or 0.8% higher this morning. On Wall Street, the Dow Jones rose 0.8%, the S&P 500 climbed 1.2%, and the Nasdaq stormed 2% higher.

Oil prices rise

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 1.7% to US$104.70 a barrel and the Brent crude oil price rose 1.2% to US$107.93 a barrel. However, this couldn’t stop oil prices recording their second successive weekly decline.

A2 Milk shares rated as a buy

The A2 Milk Company Ltd (ASX: A2M) share price could be in the buy zone according to the team at Bell Potter. This morning the broker retained its buy rating but trimmed its price target on the struggling infant formula company’s shares to $7.15. While Bell Potter has reduced its earnings forecasts to reflect higher ingredient costs, it still believes A2 Milk can double its earnings per share by FY 2026.

Gold price falls

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price softened on Friday night. According to CNBC, the spot gold price fell 0.7% to US$1,933.9 an ounce. Gold had its worst week in months after demand for safe haven assets weakened.

Iron ore price rises

The shares of BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) could have a positive start to the week after iron ore prices rose on Friday. According to Metal Bulletin, the spot benchmark iron ore price climbed 3% to US$151.35 a tonne. This follows a more positive growth outlook for the Chinese economy which has encouraged bullish market sentiment in iron ore futures.

Source: Read More

We’ve Already Come Too Far To End This Now.

Subscribe To Our Weekly Newsletter

Get notified about new articles