5 things to watch on the ASX 200 on Friday

On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a volatile session and ended in the red. The benchmark index fell 0.3% to 8,330.3 points.

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

ASX 200 expected to fall again

The Australian share market looks set for a difficult session on Friday after a poor night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 57 points or 0.7% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.4%, the S&P 500 is down 0.3%, and the Nasdaq is down 0.35%.

Oil prices edge lower

ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a relatively subdued finish to the week after oil prices edged lower overnight. According to Bloomberg, the WTI crude oil price is down 0.2% to US$70.16 a barrel and the Brent crude oil price is down slightly to US$73.52 a barrel. This was driven by the IEA forecasting an oil surplus.

Metcash goes ex-dividend

Metcash Ltd (ASX: MTS) shares are scheduled to go ex-dividend this morning and could trade lower. Earlier this month, the wholesale distributor released its half year results and reported a 5.5% decline in underlying profit to $134.6 million. This led to the company's board cutting its fully franked interim to 8.5 cents per share. This dividend will be paid to eligible shareholders on 29 January.

Gold price sinks

ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a difficult session after the gold price sank into the red overnight. According to CNBC, the gold futures price is down 1.8% to US$2,708 an ounce. Traders were taking profit after the precious metal hit a five-week high.

Buy Boss Energy shares

Boss Energy Ltd (ASX: BOE) shares could be dirt cheap according to analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating with a trimmed price target of $4.70. This implies potential upside of 87% for investors. It said: "Under a scenario where uranium prices hold US$70/lb BOE's AISC margin of US$30/lb (43%) implies a rough EV/EBITDA multiple of 6.7x on a blended forward basis in FY26, which still screens incredibly cheap against North American peers (CCO/CCJ 12.9x, EU 9.6x, EFR 13.1x)."

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

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