5 things to watch on the ASX 200 on Thursday
On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a good session and charged higher. The benchmark index was up 0.7% to 7,999 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to tumble
The Australian share market looks set to tumble on Thursday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 49 point or 0.6% lower this morning. In late trade in the United States, the Dow Jones is down 0.4%, the S&P 500 is down 1.2%, and the Nasdaq is 2.2% lower.
Oil prices rise
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1% to US$69.72 a barrel and the Brent crude oil price is up 1.1% to US$73.83 a barrel. A stronger than expected US fuel stock draw and Venezuelan supply concerns boosted prices.
Dividends being paid
Today is a big day for many Australian investors with a host of large ASX 200 shares rewarding their shareholders with their latest dividends. Among the companies making payments on Thursday are mining giants BHP Group Ltd (ASX: BHP) and Fortescue Ltd (ASX: FMG), energy giant AGL Energy Limited (ASX: AGL), supermarket leader Coles Group Ltd (ASX: COL), and lotteries company Lottery Corporation Ltd (ASX: TLC).
Gold price softens
It could be a subdued session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.1% to US$3,022.8 an ounce. The gold price softened after the US dollar strengthened.
Buy CSL shares
The team at Bell Potter is urging investors to buy CSL Ltd (ASX: CSL) shares. Following a review of the healthcare sector, the broker has reaffirmed its buy rating and $335.00 price target on the biotechnology giant's shares. This implies potential upside of 32% for investors over the next 12 months. It said: "CSL is trading at a 9-year low PE (22x) with a double-digit earnings growth outlook as Behring (particularly Ig) continues drive earnings despite headwinds elsewhere."
The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Lottery. The Motley Fool Australia has positions in and has recommended Coles Group. The Motley Fool Australia has recommended BHP Group, CSL, and Lottery. 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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