5 things to watch on the ASX on Wednesday

On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) continued its disappointing run and dropped a further 1% to 6,041.1 points.

Will the market be able to bounce back on Wednesday? Here are five things to watch:

ASX futures pointing lower.

According to the latest SPI futures, the Australian share market is expected to continue its poor run on Wednesday. At the time of writing the S&P/ASX 200 is expected to open the day 0.1% or 6 points lower. This follows a soft night of trade on Wall Street which saw the Dow Jones slide 0.2%, the S&P 500 fall 0.15%, and the Nasdaq end flat.

Oil prices climb higher.

Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) shares could be given a boost on Wednesday after oil prices climbed higher. According to Bloomberg, the WTI crude oil price pushed 0.8% higher to US$74.86 a barrel and the Brent crude oil price rose 1.1% to US$85.00 a barrel. Oil prices rose on news that Iran’s crude exports had fallen.

Altium CEO sells shares.

The shares of electronic design software company Altium Limited (ASX: ALU) will be on watch on Tuesday after its CEO sold 200,000 shares. However, I feel it is worth noting the reason for the share sales. According to the release, Mr Mirkazemi has transferred the shares to provide for accommodation and future care for his elderly parents in Australia. Altium’s CEO still remains the largest shareholder with a total of 9,518,403 shares.

Dividends being paid today.

A large number of shares are due to pay their latest dividends to eligible shareholders today. These include defence contractor Austal Limited (ASX: ASB), car listings company Carsales.Com Ltd (ASX: CAR), hearing solutions specialist Cochlear Limited (ASX: COH), outsourced administration services provider Link Administration Holdings Ltd (ASX: LNK), and airline Qantas Airways Limited (ASX: QAN).

AVZ Minerals shares suspended.

The AVZ Minerals Ltd (ASX: AVZ) share price will be on watch on Wednesday if it returns from its suspension. The lithium-focused mineral exploration company’s shares returned to trade from a trading halt yesterday with the results of its scoping study. Before the market closed its shares were suspended pending a response to ASX queries. Having read through the scoping study, I can’t say I’m surprised that it has raised a lot of questions.

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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 Altium. The Motley Fool Australia has recommended Limited and Cochlear Ltd. 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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