On Monday the S&P/ASX 200 index started the week on a positive note and raced 0.3% higher to 6,749.7 points.
Will the local share market be able to build on this on Tuesday? Here are five things to watch:
ASX 200 expected to slide lower.
It looks set to be a disappointing day of trade for the Australian share market. According to the latest SPI futures, the ASX 200 index is expected to open the day 13 points or 0.2% lower this morning following a poor night of trade in Europe following weak German economic data. On Wall Street the Dow Jones rose 15 points or 0.05%, the S&P 500 traded flat, and the Nasdaq index edged a few points lower.
Oil prices rise.
It could be a better day of trade for energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) after oil prices pushed higher. According to Bloomberg, the WTI crude oil price climbed 0.65% to US$58.46 a barrel and the Brent crude oil price pushed 0.3% higher to US$64.46 a barrel.
Webjet on watch again.
The Webjet Limited (ASX: WEB) share price will be on watch again today after its UK partner, Thomas Cook, officially collapsed after 178 years in business. Webjet advised that it will lose $150 million to $200 million of total transaction value (TTV), $7 million of additional EBITDA, and €27 million in outstanding receivables.
Gold price charges higher.
Global economic growth concerns sent the gold price charging to a two-week high overnight, which could be good news for the shares of Northern Star Resources Ltd (ASX: NST) and Saracen Mineral Holdings Limited (ASX: SAR) this morning. According to CNBC, the spot gold price climbed a further 1% to US$1,529.80 an ounce.
Dividends.
The Carsales.Com Ltd (ASX: CAR) share price could drop lower today after trading ex-dividend for its final fully franked 25 cents per share dividend. This will be paid to eligible shareholders on October 9. Elsewhere, Oil Search Limited (ASX: OSH) shareholders will be paid its 7.3 cents per share unfranked dividend later today.
