5 things to watch on the ASX 200 on Monday
On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week deep in the red. The benchmark index sank 1.65% to 8,634.5 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to fall
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 17 points or 0.2% lower. In the United States, the Dow Jones was down 0.65% and the S&P 500 edged 0.05% lower, but the Nasdaq edged 0.15% higher.
Oil prices rise
It could 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 pushed higher on Friday night. According to Bloomberg, the WTI crude oil price was up 2.2% to US$64.39 a barrel and the Brent crude oil price was up 2.4% to US$60.09 a barrel. This was driven by news that a Russian port has suspended oil exports falling an attack.
Elders results
Elders Ltd (ASX: ELD) shares will be on watch today when the agribusiness company releases its FY 2025 results. According to a note out of Citi, its analysts are expecting the company to report earnings before interest and tax (EBIT) of $144 million. A full year fully franked dividend of 36 cents per share is also expected.
Gold price tumbles
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could start the week in the red after the gold price tumbled on Friday night. According to CNBC, the gold futures price was down 2.4% to US$4,094.2 an ounce. Hawkish comments from the US Federal Reserve put pressure on the precious metal.
High conviction picks
Bell Potter has named a number of ASX 200 shares as high conviction picks. This includes Woolworths Group Ltd (ASX: WOW), Endeavour Group Ltd (ASX: EDV), and Light & Wonder Inc. (ASX: LNW). It said: "High conviction ideas are: (1) Favouring staples with an exposure to a recovery in Out Of Home consumption (BGA/WOW/EDV); (2) Market leading discretionary retail exposures (HVN, UNI & ABY); (3) We are shifting our preference from COL to WOW and EDV citing the cycling of softer comps in 2Q26-3Q26 due to supply chain issues in FY25, the greater exposure they offer to OOH and a more favourably priced three year growth profile; and (4) LNW over ALL due to a more compelling growth and value dynamic."
The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.
Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has positions in Endeavour Group, Woodside Energy Group, and Woolworths Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Light & Wonder Inc. The Motley Fool Australia has positions in and has recommended Woolworths Group. The Motley Fool Australia has recommended Elders and Light & Wonder Inc. 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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