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5 things to watch on the ASX on Friday

On Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) dropped lower and finished the day down 0.2% to 6,094.3 points.

Will the benchmark index be able to bounce back on Friday and finish on a high? Here are five things that could shape the day’s trade:

ASX futures are pointing higher.

According to the latest SPI futures, the Australian share market is expected to open the day 0.2% or 14 points higher. This comes despite weakness on Wall Street overnight which saw the Dow Jones Industrial Average fall 0.2%, the S&P 500 decline 0.1%, and the NASDAQ drop 0.2%. Trade fears weighed on investor sentiment in the United States.

Oil prices continue to rise.

The Brent crude oil price broke through the US$80 a barrel mark overnight. It has since dropped back a touch but, according to Bloomberg, sits higher by 0.3% at $79.50 a barrel. The WTI crude oil price is up 0.1% to US$71.58 a barrel. This could put BHP Billiton Limited (ASX: BHP) and Oil Search Limited (ASX: OSH) in a position to have a solid finish to the week.

Sydney Airport traffic numbers.

This morning Sydney Airport Holdings Pty Ltd (ASX: SYD) is expected to release its latest traffic performance for the month of April. Last month Sydney Airport announced a 6.1% increase in passenger numbers for the month of March. Investors will be looking for similarly strong growth in passengers numbers in April.

ANZ sells stake in Cambodian joint venture.

After the market closed on Thursday Australia and New Zealand Banking Group (ASX: ANZ) announced the sale of its 55% stake in Cambodian JV ANZ Royal Bank to Japan’s J Trust. The proceeds inclusive of transaction costs, taxes and the release of accumulated foreign currency translation reserves equates to a circa $30 million loss on sale completion for ANZ.

Treasury Wine Estates will be on watch.

The shares of Treasury Wine Estates Ltd (ASX: TWE) will be on watch on Friday after heavy declines on Thursday. Reports in the AFR of a supply glut in China weighed heavily on the wine company’s share price. Management has refuted the claims, but the media outlet has stated that short sellers aren’t convinced. Though it is worth pointing out that only a paltry 0.8% of the wine company’s shares were held short at the last count.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. The Motley Fool Australia has recommended Treasury Wine Estates Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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