5 things to watch on the ASX 200 on Monday
On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week with a small gain. The benchmark index rose 0.15% to 7,931.2points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to fall on Monday despite a decent finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 41 points or 0.5% lower. In the United States, the Dow Jones was up 0.1%, the S&P 500 rose 0.1%, and the Nasdaq pushed 0.5% higher.
Buy Woolworths shares
Woolworths Group Ltd (ASX: WOW) shares charged higher on Friday following the release of the ACCC's supermarket inquiry final report. Goldman Sachs was pleased with the report and has retained its buy rating and $36.10 price target on the company's shares. It said: "Given few surprises in today's report, we expect this to reduce the regulatory overhang for WOW/COL, which has weighed on investor sentiment over the last 14 months. That said, there are separate proceedings in the Federal Court against WOW/COL for allegedly misleading consumers with discounting pricing practices."
Oil prices rise
It looks set to be a decent start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price was up 0.3% to US$68.28 a barrel and the Brent crude oil price was up 0.2% to US$72.16 a barrel. News that OPEC plans to rein in overproduction gave prices a boost.
Gold price falls
It looks like ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price pulled back on Friday night. According to CNBC, the gold futures price was down 0.75% to US$3,021.4 an ounce. A stronger US dollar put pressure on the precious metal.
Shares going ex-dividend
A couple of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes contract services provider NRW Holdings Limited ASX: NWH) and coal miner New Hope Corporation Ltd (ASX: NHC). Last week, the latter released its half year results and declared a fully franked 19 cents per share interim dividend. This equates to a sizeable 4.1% dividend yield based on its last close price. Eligible shareholders can look forward to receiving this next month on 9 April.
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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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