Crown Resorts Ltd (ASX:CWN) and Mirvac Group (ASX:MGR) shares will be on watch on the ASX 200 on Friday. Here’s why…
The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia. –
On Thursday the S&P/ASX 200 Index (ASX: XJO) was out of form and ended the day slightly lower. The benchmark index fell 0.1% to 6,850.1 points.
Will the market be able to bounce back from this on Friday? Here are five things to watch:
ASX 200 futures pointing lower
The Australian share market could have an underwhelming finish to the week on Friday. According to the latest SPI futures, the benchmark index is expected to open the day 0.1% or 5 points lower this morning. This follows a disappointing night of trade on Wall Street, which in late trade sees the Dow Jones down 0.5%, the S&P 500 down 0.3%, and the Nasdaq 0.1% lower.
Crown CEO to resign
The Crown Resorts Ltd (ASX: CWN) share price will be one to watch today amid reports that its CEO, Ken Barton, has agreed to resign along with director Andrew Demetriou. The resignations are in response to the Bergin report. That report found that Crown was not suitable to operate its Sydney casino.
Oil prices drop
Energy shares including Oil Search Ltd (ASX: OSH) and Santos Ltd (ASX: STO) could trade lower today after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 0.75% to US$58.28 a barrel and the Brent crude oil price has fallen 0.45% to US$61.19 a barrel. This appears to have been driven by profit taking after a strong rally.
Mirvac half year update
The Mirvac Group (ASX: MGR) share price will be one to watch today when it hands in its half year results. According to CommSec, the property company is expected to report a $249 million first half profit. The Mirvac board is then expected to reward shareholders with a 5 cents per share distribution.
Gold price sinks
Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) could come under pressure after the gold price pulled back. According to CNBC, the spot gold price is down 0.95% to US$1,825.40 an ounce. This may also have been driven by traders taking profit after a series of gains.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Crown Resorts Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.