A lot is happening on the ASX 200 today…
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) had a subdued day. The benchmark index finished the day marginally higher at 7,448.7 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 12 points or 0.15% lower this morning. This follows a mixed night on Wall Street, which in late trade sees the Dow Jones down 0.5%, the S&P 500 down 0.25%, but the Nasdaq up 0.25%.
Oil prices tumble
Energy shares including Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could be under pressure today after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 2.6% to US$82.42 a barrel and the Brent crude oil price has fallen 2.3% to US$84.41 a barrel. Traders were selling oil following a rise in US stockpiles.
ANZ full year results
The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price will be one to watch when it releases its full year results this morning. According to a note out of Morgans, it is expecting the banking giant to report cash earnings from continuing operations of $6,017 million. This is broadly in line with consensus estimates. The broker has also pencilled in a 69 cents final dividend.
Gold price higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.2% to US$1,797.2 an ounce. Softening bond yields boosted the price of the precious metal.
Fortescue Q1 update
The Fortescue Metals Group Limited (ASX: FMG) share price could be on the move today when it releases its first quarter update. The mining giant is likely to provide investors with an idea of just how badly the pullback in iron ore prices has impacted its margins.
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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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.