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5 things to watch on the ASX 200 on Thursday

On Wednesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) continued its disappointing run and fell 0.5% to 5,642.8 points.

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

ASX futures pointing higher.

The Australian share market is expected to open higher this morning after a positive night of trade on Wall Street ahead of the Thanksgiving holiday. According to the latest SPI futures, the ASX 200 is expected to open 0.5% or 28 points higher on Thursday. Late in the U.S. session the Dow Jones is up 0.6%, the S&P 500 is 0.8% higher, and the Nasdaq has climbed 1.3%.

Oil prices rebound.

Although oil prices have given back some of their gains now, at one stage they had rebounded as much as 4% after U.S. government data showed strong demand for refined fuel. According to Bloomberg, the WTI crude oil price is now up 1.7% to US$54.34 a barrel and the Brent crude oil price is 1.1% higher at US$63.22 a barrel. This will be a relief for shareholders of Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after their heavy share price declines on Wednesday.

Day two on the ASX boards for Coles.

The Coles Group Limited (ASX: COL) share price performed well on Wednesday despite the market selloff. It closed the day at $12.75 giving the supermarket giant a market capitalisation of just over $17 billion. This makes it the 18th largest company on the ASX 200.

Annual general meetings.

Annual general meeting season continues today with shareholders of horticulture company Costa Group Holdings Ltd (ASX: CGC) and nickel producer Western Areas Ltd (ASX: WSA) gathering for their respective meetings. Both companies are likely to provide trading updates at their meetings.

Mineral Resources sells half of Wodgina.

The Mineral Resources Limited (ASX: MIN) share price will be on watch on Thursday after lithium giant Albermarle announced that it has paid US$1.15 billion for a 50% share of the diversified miner and mining services company’s Wodgina lithium project. The deal will see the two parties form a 50:50 joint venture and values the project at US$2.3 billion.

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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 COSTA GRP FPO. 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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