On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week with the smallest of gains. The benchmark index rose 2 points to 8,795.2 points.
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 for a poor start to the week following a disappointing session on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 43 points or 0.5% lower. In the United States, the Dow Jones was down 1.2%, the S&P 500 fell 0.5%, and the Nasdaq edged 0.2% lower.
Oil prices jump
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a strong start to the week after oil prices jumped on Friday night. According to Bloomberg, the WTI crude oil price was up 3.8% to US$103.27 a barrel and the Brent crude oil price was up 3.15% to US$116.72 a barrel. Oil prices hit a six-month high in response to escalating tensions in the Middle East.
Buy Telix shares
Telix Pharmaceuticals Ltd (ASX: TLX) shares could be in the buy zone according to analysts at Shaw and Partners. Courtesy of The Bull, the broker said: "Telix continues to benefit from strong demand for its radiopharmaceutical products, particularly in prostate cancer imaging. The company has demonstrated impressive revenue growth and is advancing a promising pipeline across diagnostics and therapeutics. Recent updates highlight expanding commercialisation opportunities in key global markets, providing multiple avenues for future earnings growth. While the stock can be volatile, its strong industry position and exposure to a rapidly growing health care segment support a positive long term outlook."
Gold price falls
It could be a poor start to the week for ASX 200 gold shares Capricorn Metals Ltd (ASX: CMM) and Northern Star Resources Ltd (ASX: NST) after the gold price fell on Friday night. According to CNBC, the gold futures price was down 1.3% to US$4,007.9 an ounce. Rising oil prices have boosted US Federal Reserve interest rate hike bets.
AGMs
A number of ASX shares are holding annual general meetings on Monday and could provide trading updates at their events. Among the companies holding meetings today are hearing solutions company Cochlear Ltd (ASX: COH) and furniture retailer Nick Scali Limited (ASX: NCK).
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 and Telix Pharmaceuticals. The Motley Fool Australia has recommended Cochlear, Nick Scali, and Telix Pharmaceuticals. 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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