5 things to watch on the ASX 200 on Thursday

The ASX 200 is expected to rebound 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) continued its poor run and sank again. The benchmark index fell 0.8% to 7,261.2 points.

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

ASX 200 expected to rebound

The Australian share market looks set to rebound on Thursday following an improved night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 36 points or 0.5% higher this morning. On Wall Street, the Dow Jones rose 0.2%, the S&P 500 climbed 0.2% and the Nasdaq traded flat.

Cochlear acquisition

The Cochlear Limited (ASX: COH) share price will be one to watch today. This follows news that the hearing solutions company is making an acquisition. Cochlear has agreed to pay A$170 million to acquire Oticon Medical. It currently has a base of more than 75,000 hearing implant recipients, which includes cochlear and acoustic implants. While Oticon Medical is expected to add A$75 million to $80 million to annual revenue, the business is currently loss making.

Oil prices push higher

It could be a decent day for energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices traded higher. According to Bloomberg, the WTI crude oil price is up 0.35% to US$102.06 a barrel and the Brent crude oil price is up to US$105.28 a barrel. This follows data out of the US which revealed that inventories remain tight.

Coles third quarter update

The Coles Group Ltd (ASX: COL) share price could be on the move today when the supermarket giant releases its third quarter update. According to a note out of Goldman Sachs, its analysts expect third quarter sales of $8.7 billion. This will be a 2.4% year on year increase and driven by comparable sales growth of 3.5% in the supermarkets division to $8 billion and 2% comparable sales growth in the liquor division.

Gold price tumbles

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a poor day after the gold price dropped to a two-month low overnight. According to CNBC, the spot gold price is down 0.95% to a two US$1,885.80 an ounce. A strong US dollar weighed on the precious metal.

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 over ten 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 January 12th 2022

More reading

Here are the top 10 ASX shares today

These ASX 200 shares are up more than 10% in the last month

Green delivery milestone fails to electrify Coles share price

How might the election outcome impact the outlook for ASX energy shares?

ASX 200 shares trim losses despite surging inflation news

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 positions in and has recommended Cochlear Ltd. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. The Motley Fool Australia has recommended Cochlear Ltd. 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.

  • This field is for validation purposes and should be left unchanged.

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 - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US & HK* Trades. Click Here!