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5 things to watch on the ASX 200 on Friday

Origin Energy Ltd (ASX:ORG) and REA Group Limited (ASX:REA) 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 The Motley Fool Australia. –

ASX share

On Thursday the S&P/ASX 200 Index (ASX: XJO) ended its winning streak with a disappointing decline. The benchmark index fell 0.9% to 6,765.5 points.

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

ASX 200 expected to rebound

The Australian share market looks set to rebound this morning and end the week on a high. According to the latest SPI futures, the ASX 200 is poised to open the day 64 points or 0.95% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.9%, the S&P 500 is up 0.9%, and the Nasdaq is also up 0.9%.

REA Group half year update

The REA Group Limited (ASX: REA) share price will be on watch this morning when it releases its half year results. According to a note out of Morgans, its analysts expect a largely flat profit result. The broker is forecasting a slight revenue decline due to the impact of the Melbourne shutdown impact, which will be offset by increased cost control.

Oil prices push higher

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the rise after another positive night for oil prices. According to Bloomberg, the WTI crude oil price is up 1.1% to US$56.29 a barrel and the Brent crude oil price has climbed 0.7% to US$58.39 a barrel. Oil prices were given a lift by OPEC sticking to a reduced output policy to help rebalance supply and demand.

Gold price sinks lower

It could be a tough day for gold miners including Newcrest Mining Ltd (ASX: NCM) and Resolute Mining Limited (ASX: RSG) after the gold price dropped lower. According to CNBC, the spot gold price is down 2.3% to US$1,792.80 an ounce. Both the gold price and the silver price tumbled lower after the U.S. dollar strengthened.

Origin rated as a buy

The Origin Energy Ltd (ASX: ORG) share price sank lower on Thursday after downgrading its guidance for FY 2021. Analysts at Goldman Sachs think this is a buying opportunity for investors and have reaffirmed their conviction buy rating and $6.50 price target on its shares. It commented: “Origin’s FY21 earnings guidance downgrade is linked to continued impacts on the market from the Covid-19 pandemic, but in our view the expected rebound in oil prices through FY21 and FY22 more than offsets the weakness in Energy Markets electricity and gas segment gross profit.”

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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