5 things to watch on the ASX 200 on Monday

Altium Limited (ASX:ALU), Bendigo and Adelaide Bank Ltd (ASX:BEN), and QBE Insurance Group Ltd (ASX:QBE) shares will be on watch on the ASX 200 on Monday…

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On Friday the S&P/ASX 200 index ended the week on a positive note. The benchmark index rose 0.4% to finish it at 7,130.2 points.

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

ASX 200 expected to drop.       

The S&P/ASX 200 index looks set to start the week on a disappointing note. According to the latest SPI futures, the ASX 200 is poised to fall 17 points or 0.25% at the open. This follows a mixed end to the week on Wall Street which saw the Dow Jones drop 0.1%, the S&P 500 index rise 0.2%, and the Nasdaq index push 0.2% higher.

Oil prices jump.

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could push higher on Monday after oil prices jumped on Friday night. According to Bloomberg, the WTI crude oil price rose 1.2% to US$52.05 a barrel and the Brent crude oil price stormed 1.7% to US$57.32 a barrel. Oil prices snapped their losing streak and had their best week of 2020 last week.

Gold price rises.

Gold miners including Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) could be on the rise today after the gold price pushed higher on Friday. According to CNBC, the spot gold price rose 0.5% to US$1,586.90 an ounce. Once again, demand for safe haven assets continues to grow after coronavirus concerns escalated.

Altium results.

Market darling Altium Limited (ASX: ALU) is scheduled to release its half year results after the market close on Monday. Investors will no doubt be looking to see if the company is on track to achieve or even beat its full year guidance for revenue of US$205 million to US$215 million and an EBITDA margin of 37% to 38%. Last week its shares hit a record high, which means expectations are high.

Other results to watch.

Altium isn’t the only company reporting its earnings on Monday. Also scheduled to release their results are regional bank Bendigo and Adelaide Bank Ltd (ASX: BEN), logistics company Brambles Limited (ASX: BXB), highly shorted building products company GWA Group Ltd (ASX: GWA), and insurance giant QBE Insurance Group Ltd (ASX: QBE).

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium. 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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