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5 things to watch on the ASX 200 on Monday

On Friday the S&P/ASX 200 index finished a very positive week on a disappointing note when it dropped 0.55% to 6,650.8 points.

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

ASX expected to drop lower.

The Australian share market looks set to start the week in the red. According to the latest SPI futures, the ASX 200 index is poised to open the day 17 points or 0.25% lower this morning following a subdued finish to the week on U.S. markets. On Wall Street the Dow Jones dropped 0.1%, the S&P 500 fell 0.1%, and the Nasdaq tumbled 0.25% lower.

Oil prices rise.

Australian energy producers Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could be on the rise again on Monday after oil prices continued their ascent. According to Bloomberg, the WTI crude oil price climbed 0.6% to US$57.43 a barrel and the Brent crude oil price gained 1.1% to US$65.20 a barrel. This meant they rose 9% and 5%, respectively, last week.

Metcash results.

All eyes will be on the Metcash Limited (ASX: MTS) share price this morning when the wholesale distributor releases its full year results. According to a note out of Goldman Sachs, its analysts are expecting Metcash to report a 1.8% increase in sales to $12.67 billion and a 0.5% lift in EBIT to $336.4 million. Goldman has Metcash on its conviction buy list with a $3.30 price target.

Gold price breaks above US$1,400.

Gold miners such as Northern Star Resources Ltd (ASX: NST) and Resolute Mining Limited (ASX: RSG) will be on watch again this morning after the spot gold price broke through the US$1,400 an ounce mark. According to CNBC, the spot gold price climbed 0.4% to finish the week at US$1,403.00 an ounce.

Westpac dividend.

Eligible Westpac Banking Corp (ASX: WBC) shareholders can look forward to being paid the banking giant’s interim dividend later today. The bank is paying out a fully franked 94 cents per share to shareholders. Some of these funds could find their way back into the market today, potentially giving the buy side a boost.

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Motley Fool contributor James Mickleboro owns Westpac shares. 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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