5 things to watch on the ASX 200 on Monday

BHP Group Ltd (ASX:BHP), IOOF Holdings Limited (ASX:IFL), and TPG Telecom Ltd (ASX:TPM) shares will be on watch on the ASX 200 on Monday. Here's what you need to know…

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A positive finish to the week on Friday meant the S&P/ASX 200 Index ended the week 1.1% higher than where it started it.

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

ASX futures flat.

According to the latest SPI futures, the ASX 200 is poised to open week flat on Monday despite a positive finish to the week on Wall Street. On Friday the Dow Jones climbed 1%, the S&P 500 rose 0.65%, and the Nasdaq was 0.45% higher.

Oil prices climb higher.

Australian energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the move on Monday after oil prices climbed higher on Friday night. According to Bloomberg, the WTI crude oil price rose 0.5% to US$63.89 a barrel and the Brent crude oil price pushed 1% higher to US$71.55 a barrel.

Iron ore prices rise again and could go higher.

BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares could be on the rise on Monday after the iron ore price surged to its highest level since July 2014. According to Bloomberg, the benchmark iron ore price hit US$95.90 a tonne on Friday and could go higher from here. Wu Wenzhang, founder and president of Shanghai Steelhome Information Technology Co., told Bloomberg that prices could increase "as mine closures in Brazil spur a market deficit in the second half of the year."

IOOF class action.

The IOOF Holdings Limited (ASX: IFL) share price will be on watch today after it confirmed that it has been served with a class action proceeding filed by Quinn Emanuel Urquhart & Sullivan in the Supreme Court of New South Wales on behalf of certain shareholders of IOOF who acquired shares between May 27 2015 and August 9 2018. The company advised that the "class action claim against IOOF is speculative and without foundation."

Dividends being paid.

Eligible shareholders of building products company Adelaide Brighton Ltd (ASX: ABC) and fuel retailer Viva Energy REIT Ltd (ASX: VVR) can look forward to receiving their latest dividends today. Elsewhere, the TPG Telecom Ltd (ASX: TPM) share price could edge lower this morning when the telco company's shares trade ex-dividend for its interim dividend.

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