5 things to watch on the ASX 200 on Thursday

It could be another eventful day for the ASX 200 on Thursday…
The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia. –

On Wednesday the S&P/ASX 200 Index (ASX: XJO) was on form again and recorded a solid gain. The benchmark index rose 0.4% to 7,531.9 points.

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

ASX 200 expected to fall

The Australian share market looks set to fall on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% lower today. This is despite it being a positive night of trade on Wall Street. Overnight, the Dow Jones rose 0.1%, the S&P 500 climbed 0.2%, and the Nasdaq rose 0.15%.

A2 Milk results

The A2 Milk Company Ltd (ASX: A2M) share price will be on watch today when it releases one of the most highly anticipated results of the month. After downgrading its guidance four times during FY 2021, the struggling infant formula company is expecting to report revenue of NZ$1.25 billion with EBITDA of NZ$132 million to NZ$150 million. The latter will be down 73% to 76% year on year. An update on current trading conditions and its expectations for FY 2022 will also be of great interest.

Oil prices rise again

Energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could have a good day after oil prices rose again overnight. According to Bloomberg, the WTI crude oil price is up 1.1% to US$68.28 a barrel and the Brent crude oil price has risen 1.6% to US$72.17 a barrel. Strong demand for US fuel gave prices a further boost.

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price tumbled lower. According to CNBC, the spot gold price is down 0.9% to US$1,792.6 an ounce. Traders appear nervous ahead of the next US Federal Reserve meeting.

Appen half year results

The Appen Ltd (ASX: APX) share price will be on watch when it releases its half year results today. A recent note out of Citi has suggested that the artificial intelligence data services company could fall well short of expectations during the half. Citi is expecting EBITDA of US$27 million for the half, which is ~20% lower than consensus estimates. Nevertheless, Citi has a buy rating and $18.80 price target on the company’s shares.

The post 5 things to watch on the ASX 200 on Thursday 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

ASX 200 rises, WiseTech soars, Zip drops

Here are the 3 most traded ASX 200 shares today

Here are the top 10 ASX 200 shares on Wednesday

The Appen (ASX:APX) share price slumped 7% last time it reported
Oil Search (ASX:OSH) share price falls amid Santos merger skepticism

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. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended A2 Milk. 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!