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5 things to watch on the ASX 200 on Friday

On Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) climbed a solid 0.6% to 5,758.4 points.

Will the ASX 200 be able to build on this on Friday and finish the week on a high? Here are five things to watch:

ASX futures pointing higher.

According to the latest SPI futures, the Australian share market is expected to open the day 0.25% or 15 points higher on Friday. This follows another positive night of trade on Wall Street ahead of the US-China trade meeting. In late trade the Dow Jones Industrial Average is up 0.3%, the S&P 500 is 0.35% higher, and the Nasdaq has climbed 0.2%.

Oil prices rebound.

Australian energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) may be poised for a solid day of trade after oil prices rebounded higher. According to Bloomberg, the WTI crude oil price rose 2.3% to US$51.43 a barrel and the Brent crude oil price climbed 1.2% to US$59.44 a barrel after Russia showed its willingness to join Saudi Arabia on its production cuts.

Solomon Lew going after Myer board.

Premier Investments Limited (ASX: PMV) chairman Solomon Lew is expected to go after the Myer Holdings Ltd (ASX: MYR) board when the embattled department store operator holds its annual general meeting today. Mr Lew hit out at the Myer board at the Premier Investments meeting on Thursday, saying that “Boards exist to create value, not to destroy value while rewarding themselves.”

Reliance Worldwide shares declared a buy.

The Reliance Worldwide Corporation Ltd (ASX: RWC) share price will be on watch on Friday after Goldman Sachs initiated coverage on the plumbing parts company with a buy rating and $5.40. The broker believes recent weakness in its share price is a buying opportunity as it has limited exposure to new housing and the company has been winning market share in the U.S. despite low market penetration.

Dividends being paid.

Shareholders of fund manager Janus Henderson Group PLC (ASX: JHG) are due to be paid their latest 49.3 cents per share dividend today. Elsewhere on the market, shareholders of Freedom Foods Group Ltd (ASX: FNP) and Kathmandu Holdings Ltd (ASX: KMD) will be receiving a pay check this morning.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia has recommended Freedom Foods Group 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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