On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a positive note. The benchmark index rose 0.3% to 8,773.5 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set for a decent start to the week following a good finish to the last one on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% higher. In the United States, the Dow Jones was up 0.4%, the S&P 500 rose 0.5% and the Nasdaq pushed 0.7% higher.
Oil prices weaken
It looks set to be a subdued start to the week for ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices fell on Friday night. According to Bloomberg, the WTI crude oil price was down 1.4% to US$62.68 a barrel and the Brent crude oil price was down 1.1% to US$66.68 a barrel. This may have been driven by news that the US plans to put further sanctions on Russia.
New Hope goes ex-dividends
New Hope Corporation Ltd (ASX: NHC) shares are going ex-dividend on Monday morning and could trade lower today. The coal miner released its full year results earlier this month and declared a fully franked final dividend of 15 cents per share. This will be paid to eligible shareholders next month on 8 October.
Gold price rises
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price pushed higher on Friday night. According to CNBC, the gold futures price was up a 0.75% to US$ 3,705.8 an ounce. Traders were buying gold amid optimism over the US Federal Reserve's rate cut outlook.
Buy Region shares
Region Re Ltd (ASX: RGN) shares could be a top option for investors in the real estate sector according to Bell Potter. This morning, the broker has retained its buy rating and $2.70 price target on the convenience-based retail property company. It said: "[W]e see clear signs for further valuation growth, especially considering RGN's strong weighting to higher value east coast land, noting some of these comps are non-east coast locations. Despite this, RGN, the largest owner of neighbourhood centres in the country (c.7% of highly fragmented market), still trades at a slight -1.2% discount to NTA vs. a c.15-20% premium during prior growth cycles, and our view for -20-30bps cap rate compression on a 12m view in sector NAV vals."
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 Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Region Group. 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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