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5 things to watch on the ASX 200 on Wednesday

ALS Ltd (ASX:ALQ) and Link Administration Holdings Ltd (ASX:LNK) shares will be on watch on the ASX 200 on Wednesday…
The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia. –

On Tuesday the S&P/ASX 200 Index (ASX: XJO) was on form and charged notably higher. The benchmark index rose 1% to 7,115.2 points.

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

ASX 200 expected to fall

It looks set to be a disappointing day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.5% lower this morning. This follows an underwhelming night of trade on Wall Street which saw the Dow Jones fall 0.25%, the S&P 500 drop 0.2% and the Nasdaq trade broadly flat.

ALS results

The ALS Ltd (ASX: ALQ) share price will be one to watch closely on Wednesday. This morning the leading global testing, inspection and certification company is due to release its full year results. During the first half, ALS reported an 8.7% decline in revenue to $838.8 million and a 17.9% reduction in underlying net profit after tax to $80.6 million. A better second half performance is expected.

Oil prices mixed

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a subdued day on Wednesday. According to Bloomberg, the WTI crude oil price is down 0.25% to US$65.89 a barrel and the Brent crude oil price is flat at US$68.46 a barrel. Traders appear nervous while they await news on Iranian sanctions.

Link’s PEXA update

The Link Administration Holdings Ltd (ASX: LNK) share price could be on the move today after releasing an update on its PEXA business. According to the release, the business is expected to deliver revenue of $218 million in FY 2021. This will be a 40% increase on the prior corresponding period.

Gold price higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) will be on watch after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.85% to US$1,900.30 an ounce. The precious metal hit a four and a half month high after bond yields weakened. 

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5 things to watch on the ASX 200 on Tuesday

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

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