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.
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.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended carsales.com Limited and Webjet Ltd. 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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