On Friday the S&P/ASX 200 index ended the week on a positive note. The benchmark index rose 0.4% to 6,821.7 points.
Will the local share market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to slide.
It looks set to be a disappointing start to the week for the S&P/ASX 200 index. According to the latest SPI futures, the ASX 200 is poised to fall 0.3% or 22 points at the open. On Wall Street the Dow Jones rose 0.1%, the S&P 500 was flat, and the Nasdaq index fell 0.2%.
Oil prices edge higher.
It could be a positive start to the week for energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) after oil prices edged higher. According to Bloomberg, the WTI crude oil price rose 0.1% to US$61.72 a barrel and the Brent crude oil price climbed 0.4% to US$68.16 a barrel. Oil prices were given a boost after US stockpiles dropped.
Gold price higher.
Gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch on Monday after the spot gold price pushed higher again. According to CNBC, the spot gold price pushed a further 0.25% higher to US$1,518.10 an ounce.
Tech shares on watch.
Australian tech shares including Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) could come under pressure on Monday after their U.S. counterparts tumbled lower on Friday. Local tech shares have a tendency to follow the lead of the technology-focused Nasdaq index, which fell 0.2% on Friday night.
Shares going ex-dividend.
A large number of income shares are trading ex-dividend this morning for their latest pay outs and could trade lower. This includes property company Mirvac Group (ASX: MGR), airport operator Sydney Airport Holdings Pty Ltd (ASX: SYD), and toll road giant Transurban Group (ASX: TCL).
