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5 things to watch on the ASX on Monday

On Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) finished the week on a positive note, ending it with a 0.4% gain.

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

ASX futures pointing lower.

The Australian share market is expected to open the week lower. According to the latest SPI futures, the market is poised to open 0.4% or 23 points lower on Monday. This follows a mixed night of trade on Wall Street on Friday which saw the Dow Jones rise 0.3% but the S&P 500 edge lower and the Nasdaq tumble 0.5%.

A2 Milk share sales

The A2 Milk Company Ltd (ASX: A2M) share price will be on watch today after the CEO of the infant formula and dairy company sold all her ordinary shares. According to a change of director’s interest notice, last week Jayne Hrdlicka sold 357, 232 shares for A$3,995,139.80, averaging out at $11.18 per share. Ms Hrdlicka only joined a2 Milk Company on July 16.

Copper price makes big gain.

The shares of copper miners OZ Minerals Limited (ASX: OZL) and Rio Tinto Limited (ASX: RIO) could be on the move today after copper prices surged higher. According to Reuters, copper made its biggest one-day advance in over five years on Friday as investors calculated that a trade dispute between the United States and China could damage economic growth less than feared. The benchmark copper price on the London Metal Exchange closed the week at US$6,363 a tonne, up 4.6%. This brought its weekly gain to a sizeable 6.5%.

Shares going ex-dividend.

A number of shares will trade ex-dividend this morning. These include the shares of car listings company Carsales.Com Ltd (ASX: CAR), New Zealand telecom company Chorus Ltd (ASX: CNU), and fleet management and salary packaging services provider SG Fleet Group Ltd (ASX: SGF).

ResMed rated as a buy.

The ResMed Inc. (ASX: RMD) share price could be on the rise today after the release of a favourable broker note out of Goldman Sachs. According to the note, the broker has retained its buy rating and $16.70 price target on ResMed’s shares following its investor day in San Diego last week. The broker estimates that the CPAP market is growing around the top of its historical mid-high single digit range and it believes ResMed is currently delivering ahead of this level due to its superior portfolio and effective commercial strategy.

Growth share trading at a bargain price.

This top growth share will be on watch this week after drifting lower and into the bargain bin. It has recently been given a buy rating by experts.

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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 A2 Milk. The Motley Fool Australia has recommended carsales.com Limited and ResMed Inc. 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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