5 things to watch on the ASX on Thursday

A2 Milk Company Ltd (ASX:A2M), Ainsworth Game Technology Limited (ASX:AGI), and Oil Search Limited (ASX:OSH) shares will be on watch on Thursday. Here's what you need to know…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Wednesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) bounced back with a 0.7% gain to 6,245.1 points.

Will the local market be able to build on this on Thursday? Here are five things that could shape today's trade:

ASX futures pointing higher.

According to the latest SPI futures, the local share market is expected to open the day higher by 0.15% or 9 points. This follows a reasonably positive night of trade on Wall Street which saw the Dow Jones rise 0.3% and the S&P 500 climb 0.2%. The Nasdaq, however, edged slightly lower.

Oil prices rebound.

Shareholders of Australian energy shares including Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) will be relieved to learn that oil prices rebounded slightly overnight, putting an end to their slump. The WTI crude oil price rose 0.2% to US$68.92 a barrel and the Brent crude oil price climbed 1% to US$72.90 a barrel.

Local data.

Later today National Australia Bank Ltd (ASX: NAB) will release its Business Survey for the second quarter of 2018. In the first quarter the business conditions index increased by 2pts to +17, its highest level since 2007. Whereas the Business confidence index was unchanged at +7 index points, which was a little above its historical average.

Earnings upgrade from Ainsworth Game Technology.

The shares of the Ainsworth Game Technology Limited (ASX: AGI) could be given a major boost today after the embattled gaming technology company upgraded its guidance. The company had recently advised that full-year profit before tax (excluding currency movements) was expected to be $36 million. But due to a late order increase from Churchill Downs Incorporated, this is now expected to come in at $39 million.

A2 Milk Company shares will be on watch.

A2 Milk Company Ltd (ASX: A2M) share price could be heading lower following the release of a broker note out of UBS. Although the broker is optimistic on its future, there are small concerns over falls in formula prices. The company's New Zealand-listed shares are down 1.5% in early trade.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of National Australia Bank 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.

More on Share Market News

Contented looking man leans back in his chair at his desk and smiles.
Share Market News

5 things to watch on the ASX 200 on Monday

It looks set to be a good start to the week for Aussie investors.

Read more »

A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.
Share Market News

These are the 10 most shorted ASX shares

Let's see which shares short sellers are targeting this week.

Read more »

A graphic image of the world globe surrounded by tech images is superimposed on the setting of an office where three businesspeople are speaking together while standing.
Share Market News

Here's how the ASX 200 market sectors stacked up last week

ASX technology shares led the market with a 2.8% gain this week.

Read more »

A young woman lifts her red glasses with one hand as she takes a closer look at news about interest rates rising and one expert's surprising recommendation as to which ASX shares to buy
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

Woman in a hammock relaxing, symbolising passive income.
Dividend Investing

Hoping to retire? I'd buy these ASX 200 dividend shares for passive income

I think these ASX 200 dividend stocks will continue to reward passive income investors for years to come.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Broker Notes

These ASX 300 shares could rise 35% to 65%

Analysts are tipping these shares to rise strongly from current levels. How high could they go?

Read more »

a man in a high visibility vest and hard hat holds a thumbs up at a mine site with heavy equipment in the background.
Broker Notes

What are brokers saying about BHP shares following the miner's quarterly results?

Analysts have crunched the numbers.

Read more »

A young girls clings in fright to a big red slide.
Share Market News

Here are the top 10 ASX 200 shares today

Investors were hitting the sell button hard today...

Read more »