On Tuesday the S&P/ASX 200 index returned to form with a small gain. The benchmark index finished the day 0.2% higher at 6,332.4 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 expected to storm higher.
It looks set to be a very positive day of trade for the Australian share market after an impressive rebound on Wall Street. According to the latest SPI futures, the ASX 200 index is poised to open 0.9% or 55 points higher this morning. On Wall Street the Dow Jones climbed 2.1%, the S&P 500 rose 2.1%, and the Nasdaq surged 2.7% higher.
Vocus takeover collapses.
The Vocus Group Ltd (ASX: VOC) share price could sink lower today after takeover discussions with EQT Infrastructure were terminated. According to the release, following an accelerated period of due diligence, EQT has decided not to proceed with its $5.25 cash per share offer. All eyes will be on AGL Energy Limited (ASX: AGL) now. The energy company had been interested in acquiring the telco company as well.
Oil prices higher.
Australian energy producers Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could push higher on Wednesday after oil prices bounced back. According to Bloomberg, the WTI crude oil price rose 0.6% to US$53.57 a barrel and the Brent crude oil price climbed 1.3% to US$62.05 a barrel. Prices pushed higher after supply cuts offset trade worries.
Gold price higher.
It looks set to be another positive day of trade for gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) on Wednesday after the gold price continued its ascent. According to CNBC, the spot gold price rose 0.2% to US$1,330.30 an ounce. Investors believe the U.S. Federal Reserve could soon cut rates.
NEXTDC raises $200 million.
NEXTDC Ltd (ASX: NXT) shares will be on watch after the data centre operator revealed that it has raised $200 million in senior unsecured debt via an additional fixed and floating rate tranche of its existing $300 million Notes IV, due 9 June 2022. These funds will be deployed across its existing development pipeline in the coming years.
