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

5 things to watch on the ASX 200 on Tuesday

SHARE

On Monday, the S&P/ASX 200 Index (ASX: XJO) was out of form and started the week with a heavy decline. The benchmark index fell 1% to 7,038.6 points.

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

ASX 200 futures pointing lower

The Australian share market is expected to open the day lower this morning following a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 8 points or 0.1% lower. This may not be a bad outcome considering the Dow Jones is currently down 1.9%, the S&P 500 has fallen 2.3%, and the Nasdaq is down 2.7%.

St Barbara tipped as takeover target

The St Barbara Ltd (ASX: SBM) share price will be on watch today after it was tipped as a takeover target. According to the AFR, its Gwalia underground mine and processing plant could be of interest to nearby gold miners Northern Star Resources Ltd (ASX: NST) and Ramelius Resources Limited (ASX: RMS).

Oil prices up again

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) will be on watch after oil prices rose again. According to Bloomberg, the WTI crude oil price is up 3.8% to US$120.02 a barrel and the Brent crude oil price has risen 4.9% to US$123.80 a barrel. However, while oil prices are higher than 24 hours ago, they are lower than intraday levels on Monday. At one point oil prices reached a 13-year high of US$130 a barrel.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher. According to CNBC, at the time of writing, the spot gold price is up 1.55% to US$1,997.5 an ounce. Demand for safe haven assets is supporting the precious metal.

Flight Centre rated as a buy

The Flight Centre Travel Group Ltd (ASX: FLT) share price could be in the buy zone according to analysts at Bell Potter. According to the note, the broker has retained its buy rating and lifted its price target to $20.50. It commented: “We retain our positive view on FLT’s outlook and competitive position as global travel recovers in CY22e.”

Source: Read More

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

Subscribe To Our Weekly Newsletter

Get notified about new articles