On Friday the S&P/ASX 200 index finished the week on a subdued note. The benchmark index finished the day a few points lower at 6,724.1 points.
Will the local share market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to rise.
The S&P/ASX 200 index looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open 27 points or 0.4% higher this morning. This follows a positive end to the week on Wall Street which saw the Dow Jones trade flat, the S&P 500 climb 0.25%, and the Nasdaq push 0.5% higher.
Oil prices rise.
Energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could be on the rise today after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price rose 0.15% to US$57.24 a barrel and the Brent crude oil price climbed 0.35% to US$62.51 a barrel.
Gold price continues its slide.
Australia's gold miners were sold off on Friday after the gold price crashed lower. Unfortunately for the likes of Northern Star Resources Ltd (ASX: NST) and Resolute Mining Limited (ASX: RSG), gold prices have continued to soften. According to CNBC, the spot gold price fell a further 0.25% to US$1,462.90 an ounce. Trade deal hopes sent the gold price to a three-month low.
Shares going ex-dividend.
The shares of Australia and New Zealand Banking Group (ASX: ANZ) and Macquarie Group Ltd (ASX: MQG) could drop lower today after trading ex-dividend. ANZ will be paying eligible shareholders its 80 cents per share partially franked dividend on December. Macquarie is paying its $2.50 per share partially franked dividend on the same day.
REA Group rated as a buy.
The REA Group Limited (ASX: REA) share price will be one to watch on Monday. Its shares tumbled lower on Friday after the release of a softer than expected first quarter update. One broker that sees this as a buying opportunity is Goldman Sachs. It has retained its buy rating but trimmed its price target slightly to $122.
