5 things to watch on the ASX 200 on Monday
On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small decline. The benchmark index edged 0.1% lower to 8,436.2 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set for a decent start to the week following a positive finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 21 points or 0.25% higher. In the United States, the Dow Jones was up 0.4%, the S&P 500 rose 0.55%, and the Nasdaq stormed 0.8% higher.
Oil prices fall
It could be a poor start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices fell again on Friday. According to Bloomberg, the WTI crude oil price was down 0.8% to US$68.15 a barrel and the Brent crude oil price was down 0.45% to US$72.94 a barrel. Oil prices lost 3% of their value last week after supply risks eased.
Metcash half year results
Metcash Ltd (ASX: MTS) shares will be on watch today when the wholesale distributor releases its half year results. Goldman Sachs isn't expecting a particularly strong result from the company. It said: "Trade sales in IHG continues to be challenging, retail store margins facing impact of lower volumes on fixed cost. Wholesale sales also lower-margin. 1H25 NPAT range A$132- A$135mn vs A$142.5mn in 1H24." It also notes that in a difficult market, its analysts "expect that MTS's Hardware DIY business [will] lose market share."
Gold price pushes higher
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a decent start to the week after the gold price pushed higher on Friday night. According to CNBC, the gold futures price was up 0.35% to US$2,673.9 an ounce. Despite this gain, the precious metal had its worst month of the year amid a Trump-driven selloff.
Buy Harvey Norman shares
Harvey Norman Holdings Limited (ASX: HVN) shares could be good value at current levels. That's the view of analysts at Bell Potter, which have reaffirmed their buy rating and $5.80 price target on the retail giant's shares. It said: "We see a sizable upside from the AI driven upgrade cycle/replacement cycle of devices purchased during COVID-peak to Consumer Electronics sales at HVN ahead."
The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.
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 Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Harvey Norman. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2024