5 things to watch on the ASX 200 on Monday
On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a very positive note. The benchmark index rose 0.7% to 8,864.9 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to tumble
The Australian share market looks set for a poor start to the week following a mixed finish to the last one on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 59 points or 0.65% lower. In the United States, the Dow Jones was down 0.6% and the S&P 500 edged slightly lower, but the Nasdaq rose 0.45%.
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 0.5% to US$62.69 a barrel and the Brent crude oil price was up 0.9% to US$66.99 a barrel. This may have been driven by news that the US plans to put further sanctions on Russia.
ASX 200 shares going ex-dividend
A number of ASX 200 shares will be going ex-dividend this morning and could trade lower. This includes burrito seller Guzman Y Gomez Ltd (ASX: GYG), gold miner Ramelius Resources Ltd (ASX: RMS), and fashion jewellery retailer Lovisa Holdings Ltd (ASX: LOV). In respect to the latter, last month it released its FY 2025 results and declared a 27 cents per share final dividend. This will be paid to eligible shareholders next month on 16 October.
Gold price rises again
ASX 200 gold shares including 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 a 0.35% to US$3,686.4 an ounce. Traders continue to bet on the US Federal Reserve cutting interest rates very soon.
Buy Coles shares
Coles Group Ltd (ASX: COL) shares are now a key pick in the consumer sector for analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating and $24.30 price target on the supermarket giant's shares. It said: "We are adding COL to our key picks reflecting stronger trading results compared to both WOW and MTS. At a high level we continue to favour staples with an exposure to a recovery in Out Of Home consumption (BGA & NOU) and market leading discretionary retail exposures (HVN, UNI & JBH). While both are Buy rated, LNW offers a more compelling growth and value dynamic relative to ALL."
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 Lovisa and Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa. The Motley Fool Australia has positions in and has recommended Coles Group. The Motley Fool Australia has recommended Lovisa. 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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