REA Group Limited (ASX:REA) and Zip Co Ltd (ASX:Z1P) shares will be on watch on the ASX 200 on Monday…
The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia. –
On Friday the S&P/ASX 200 Index (ASX: XJO) finished a very positive week with a strong gain. The benchmark index rose 1.1% to 6,840.5 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to rise
The ASX 200 is expected to open the week slightly higher. According to the latest SPI futures, the benchmark index is poised to rise 5 points at the open. This follows a positive end to the week on Wall Street, which saw the Dow Jones rise 0.3%, the S&P 500 climb 0.4%, and the Nasdaq push 0.6% higher. The S&P 500 climbed 4.7% over the five days, which was its best weekly performance since November.
Oil prices climb
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could start the week with a gain after oil prices pushed higher. According to Bloomberg, the WTI crude oil price rose 1.1% to US$56.85 a barrel and the Brent crude oil price climbed 0.9% to US$59.34 a barrel. Oil prices hit their highest levels in a year after rising ~6% for the week.
REA Group shares given buy rating
The REA Group Limited (ASX: REA) share price will be on watch this morning after analysts at Goldman Sachs retained their buy rating and lifted their price target on the real estate listings company’s shares to $159.00. This follows the release REA Group’s half year update last week. Goldman’s analysts “continue to believe the FY22 outlook remains extremely robust, forecasting +17% EBITDA growth”
Gold price pushes higher
It could be a positive day for gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) after the gold price pushed higher on Friday. According to CNBC, the spot gold price rose 1.2% to US$1,813.00 an ounce. This couldn’t stop the precious metal from recording a 2% decline for the week.
Zip to list in the US?
The Zip Co Ltd (ASX: Z1P) share price will be one to watch amid speculation the company could be considering a secondary listing in the United States. This is expected to give the company greater access to US capital markets. According to the AFR, management will spend the next few days in front of US investors
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.
*Returns as of June 30th
- Could these exciting small cap ASX shares be the next big thing?
- Why ASX miners will get a double tailwind from Biden’s US$1.9tn stimulus
- 5 things to watch on the ASX 200 next week
- These were the best performing ASX 200 shares last week
- These were the worst performing ASX 200 shares last week
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. 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.