
On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small decline. The benchmark index fell 0.15% to 8,960.6 points.
Will the market be able to bounce back on Monday? Here are five things to watch:
The Australian share market looks set for a strong start to the week despite a mixed finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 70 points or 0.75% higher. In the United States, the Dow Jones was down 0.55%, the S&P 500 dropped 0.1%, and the Nasdaq rose 0.35%.
It could be a subdued start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices eased on Friday night. According to Bloomberg, the WTI crude oil price was down 1.23% to US$96.57 a barrel and the Brent crude oil price was down 0.75% to US$112.57 a barrel. This may have been driven by optimism over peace talks between the US and Iran.
A couple more ASX 200 shares will be rewarding their shareholders with dividend payments on Monday. This includes hearing solutions company Cochlear Ltd (ASX: COH) and auto listings giant CAR Group Limited (ASX: CAR). They will be paying partially franked dividends of $2.15 per share and 42.5 cents per share, respectively, later today.
ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a soft start to the week after the gold price fell on Friday night. According to CNBC, the gold futures price was down 0.65% to US$4,787.4 an ounce. This may also have been driven by news of peace talks between the US and Iran.
Morgans isn't a buyer of Orora Ltd (ASX: ORA) shares despite their heavy decline last week. The broker has retained its hold rating with a heavily reduced price target of $1.55 (from $2.30). It prefers fellow packaging company Amcor (ASX: AMC) and has a buy rating and $76.00 price target on its shares. It said: "Given the ongoing uncertainty surrounding the conflict in the Middle East, visibility on the timing of a potential restart at the RAK facility remains limited. In addition, global consumer confidence and spirits demand have already been negatively affected by the conflict and may remain subdued for some time, even in the event of a near-term resolution. Given this uncertainty, we believe it is prudent to await further updates before reassessing our view. Within the Packaging sector, our preference remains Amcor (AMC, BUY, $76.00 TP)."
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 Cochlear and Woodside Energy Group Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear. The Motley Fool Australia has positions in and has recommended Amcor Plc. The Motley Fool Australia has recommended CAR Group Ltd, Cochlear, and Orora. 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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