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5 things to watch on the ASX 200 on Thursday

On Wednesday the S&P/ASX 200 index continued its positive run and charged higher again. The benchmark index finished the day 1.3% higher at 6,736.5 points.

Will the local share market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to fall.       

The S&P/ASX 200 index looks set to slide lower following a soft night of trade on global markets. According to the latest SPI futures, the ASX 200 is poised to drop 0.1% or 8 points at the open. Over on Wall Street the Dow Jones fell 0.1%, the S&P 500 dropped 0.2%, and the Nasdaq sank 0.3% lower.

BHP update.

All eyes will be on the BHP Group Ltd (ASX: BHP) share price today when the mining giant releases its first quarter update. According to a note out of Goldman Sachs, it is expecting BHP to report WAIO iron ore production of 68.4Mt and copper production of 426kt.

Oil prices push higher.

Beach Energy Ltd (ASX: BPT), Woodside Petroleum Limited (ASX: WPL), and the rest of Australia’s energy producers will be on watch today after oil prices pushed higher. According to Bloomberg, the WTI crude oil price climbed 0.9% to US$53.30 a barrel and the Brent crude oil price rose 1% to US$59.33 a barrel.

Gold price rises.

It looks set to be a better day of trade for gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) after the spot gold price rebounded overnight. According to CNBC, the spot gold price jumped 0.7% to US$1,493.9 an ounce.

Bank of Queensland result.

The Bank of Queensland Limited (ASX: BOQ) share price will be on watch today when it releases its full year results. Based on the Bloomberg consensus estimate, the market is expecting the regional bank to post cash earnings of $330 million. This will be an 11% decline on the prior corresponding period. A 34 cents per share fully franked dividend is expected to be declared.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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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