5 things to watch on the ASX 200 on Tuesday

EML Payments Ltd (ASX:EML) and South32 Ltd (ASX:S32) shares will be on watch on the ASX 200 on Tuesday. Here’s why…
The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia. –

Investor sitting in front of multiple screens watching share prices

On Monday the S&P/ASX 200 Index (ASX: XJO) gave back the majority of its early gains to finish the day only slightly higher. The benchmark index rose 0.1% to 7,023.6 points.

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

ASX 200 expected to rise

The Australian share market looks set to push higher on Tuesday despite a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% higher this morning. On Wall Street, the Dow Jones dropped 0.15%, the S&P 500 fell 0.25%, and the Nasdaq tumbled 0.4%.

Oil prices rise

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 1.5% to US$66.35 a barrel and the Brent crude oil price has risen 1.2% to US$69.53 a barrel. Oil prices climbed on global economic recovery hopes.

EML Payments on watch

The EML Payments Ltd (ASX: EML) share price could return from its trading halt this morning. On Monday the payments company requested the halt pending the release of an announcement in relation to significant regulatory concerns notified by the Central Bank of Ireland. These concerns relate to the Prepaid Financial Services business that EML acquired back in March 2020.

Gold price jumps

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a solid day after the gold price jumped overnight. According to CNBC, the spot gold price is up 1.55% to US$1,866.60 an ounce. Weakness in stocks and bond yields drove the gold price to a three-month high.

South32 given buy rating

On Monday South32 Ltd (ASX: S32) announced the divestment of its coal business. This went down well with the market and analysts. One of the latter was Goldman Sachs, which believes the move is transformational. In light of this, the broker has reaffirmed its conviction buy rating and $3.40 price target on the mining giant’s shares.

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.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

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 recommends EML Payments. The Motley Fool Australia has recommended EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

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!