Insights

5 things to watch on the ASX 200 on Monday

It looks set to be a busy start to the week…
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) was on form and pushed higher. The benchmark index rose 0.45% to 7,308 points.

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

ASX 200 poised to edge higher

The Australian share market is expected to start the week slightly higher. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% higher. This follows a reasonably positive end to the week on Wall Street, which saw the Dow Jones rise 0.7%, the S&P 500 climb 0.3%, and the Nasdaq edge slightly lower.

Oil prices rebound

It could be a positive start to the week for energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price rose 1% to US$74.05 a barrel and the Brent crude oil price rose 0.8% to US$76.18 a barrel. Strong demand led to oil prices recording their fifth weekly gain.

Metcash results

The Metcash Limited (ASX: MTS) share price will be on watch today when it hands in its full year results. According to a note out of Goldman Sachs, its analysts are expecting the wholesale distributor to record an 8.2% increase in revenue to $14,088 million. This is expected to be driven by Food sales and its hardware business, offsetting the loss of two major supply contracts. On the bottom line, Goldman is forecasting underlying EBIT of $432.3 million.

Gold price slightly higher

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price edged higher on Friday night. According to CNBC, the spot gold price rose 0.1% to US$1,777.80 an ounce. This meant the precious metal recorded a small weekly gain.

Costa returns

The Costa Group Holdings Ltd (ASX: CGC) share price is due to return from its trading halt this morning. The horticulture company requested the halt last week so it could raise funds to acquire 2PH Farms for $200 million. Credit Suisse is a fan of its plan. Its analysts believe 2PH is an excellent business, has significant strategic value, and comes at a fair price.

The post 5 things to watch on the ASX 200 on Monday 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 May 24th 2021

More reading

Top brokers name 3 ASX shares to buy next week

2 ASX shares that multiple brokers think could be buys

These were the best-performing ASX 200 shares last week

These were the worst-performing ASX 200 shares last week

ASX 200 rises, Charter Hall up, Boral jumps

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 owns shares of and has recommended COSTA GRP FPO. 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!