On Friday the S&P/ASX 200 index gave back its morning gains to finish the day a few points lower at 6,405.5 points. This led to the benchmark index recording a disappointing decline of ~2.7% for the week.
Will the Australian share market be able to bounce back on Monday? Here are five things to watch:
ASX 200 expected to rise.
The Australian share market looks set to start the week on a positive note after U.S. markets charged higher on Friday night following news of German stimulus plans. According to the latest SPI futures, the ASX 200 index is expected to open the day 41 points or 0.65% higher this morning. On Wall Street the Dow Jones rose 1.2%, the S&P 500 index climbed 1.45%, and the Nasdaq raced 1.7% higher.
Oil prices rebound.
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices rebounded on Friday. According to Bloomberg, the WTI crude oil price climbed 0.7% to US$54.87 a barrel and the Brent crude oil price rose 0.7% to US$58.64 a barrel.
NIB full year result.
The NIB Holdings Limited (ASX: NHF) share price will be on watch today when it releases its highly anticipated full year results. The private health insurance company’s shares have been on fire since the surprise election result, so it will need to deliver a strong result today. According to CommSec, the market consensus is for a net profit after tax of $146.4 million and a final dividend of 12.5 cents per share.
Gold price slides.
With U.S. markets charging higher on Friday, demand for safe havens assets reduced and sent the gold price lower. According to CNBC, the spot gold price fell 0.5% to US$1,523.60 an ounce on Friday. This could put a bit of pressure on gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) this morning.
Altium Ltd (ASX: ALU) is scheduled to release its full year results after the market close on Monday. According to CommSec, the printed circuit board design software provider is expected to deliver a net profit after tax of US$53 million. But with its shares up 50% since the start of the year, I suspect Altium may need to outperform this to satisfy the market.
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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 Altium. The Motley Fool Australia has recommended NIB Holdings 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.