Insights

5 things to watch on the ASX 200 on Friday

Here’s what to expect 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. –

On Thursday, the S&P/ASX 200 Index (ASX: XJO) fought very hard to record a small gain. The benchmark index rose 0.1% to 7,407.3 points.

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

ASX 200 expected to edge lower

The Australian share market looks set to end the week in a subdued fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% lower. This follows a reasonably good night of trade on Wall Street, which late on sees the Dow Jones down slightly, but the S&P 500 up 0.2% and the Nasdaq up 0.45%.

NAB rated as a buy

The National Australia Bank Ltd (ASX: NAB) share price could be good value according to analysts at Bell Potter. According to the note, the broker has retained its buy rating and $32.00 price target on the bank’s shares. This follows news that the ACCC has given the green light to NAB’s acquisition of Citi’s Australian consumer business.

Oil prices soften

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could end the week in the red after oil prices softened. According to Bloomberg, the WTI crude oil price is down 0.45% to US$78.03 a barrel and the Brent crude oil price is flat at US$82.25 a barrel. Oil prices slipped as traders wait to see how OPEC will respond to US led oil reserve releases.

Annual general meetings

Annual general meeting season continues on Friday with a host of companies holding their events. These include copper producer Sandfire Resources Ltd (ASX: SFR), telco Uniti Group Ltd (ASX: UWL), and gold miner Westgold Resources Ltd (ASX: WGX). These companies could provide investors with a trading update at their respective events.

Gold price rises

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price pushed higher. According to CNBC, the spot gold price is up 0.25% to US$1,788.3 an ounce. The gold price rose after the US dollar weakened.

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

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Are Newcrest (ASX:NCM) shares an inflation-hedging buy?

Here are the top 10 ASX shares today

These 3 ASX 200 shares are topping the volume charts this Thursday

Santos (ASX:STO) share price dips despite progress on $21 billion merger

Green light: NAB (ASX:NAB) share price slips as ACCC gives nod to Citi deal

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

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!