5 things to watch on the ASX 200 on Friday

Afterpay Ltd (ASX:APT) and Premier Investments Limited (ASX:PMV) shares will be on watch on the ASX 200 on Friday…
The post 5 things to watch on the ASX 200 on Friday appeared first on Motley Fool Australia. –

Surprised man with binoculars watching the share market go up and down

On Thursday the S&P/ASX 200 Index (ASX: XJO) was back on form and charged higher. The benchmark index climbed 0.4% higher to 6,590.2 points.

Will the market be able to build on this on Friday? Here are five things to watch:

ASX 200 expected to rise.

The Australian share market looks set to rise on Friday after a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points or 0.17% higher. In late trade in the United States, the Dow Jones is up 0.4%, the S&P 500 is flat, and the Nasdaq has risen 0.3%.

Oil prices push higher.

Energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices rose again. According to Bloomberg, the WTI crude oil price is up 0.8% to US$45.63 a barrel and the Brent crude oil price has climbed 1% to US$48.72 a barrel. This follows news that OPEC has agreed to increase its production gradually.

Premier Investments AGM.

Smiggle, Peter Alexander, and Just Jeans owner, Premier Investments Limited (ASX: PMV), is holding its annual general meeting today. It was a strong performer in FY 2020 thanks to its online sales growth. Premier Investments reported a 29% increase in net profit after tax to $137.8 million. Investors will no doubt be keen to see whether this momentum has carried over into the new financial year.

Gold price rises again.

Gold miners including Evolution Mining Ltd (ASX: EVN) and Saracen Mineral Holdings Limited (ASX: SAR) could end the week on a high after the gold price pushed higher again. According to CNBC, the spot gold price is up a further 0.7% to US$1,843.50 an ounce. The prospect of the US finally approving a COVID-19 stimulus package has given the gold price a lift.

Afterpay rated neutral.

The Afterpay Ltd (ASX: APT) share price could still climb a touch higher from here according to analysts at Goldman Sachs. This morning the broker responded to its trading update by retaining its neutral rating and lifting its price target to $99.90. This compares to the current Afterpay share price of $96.20. Goldman revealed that Afterpay thoroughly outperformed its expectations in November.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post 5 things to watch on the ASX 200 on Friday appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!