On Monday the S&P/ASX 200 index started the week on a subdued note. The benchmark index fell a few points to 7,125.1 points.
Will the local share market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 expected to edge lower.
The S&P/ASX 200 index looks set to edge lower on Tuesday. According to the latest SPI futures, the ASX 200 is poised to drop 3 points at the open. This is despite it being a positive start to the week on European markets overnight. Wall Street was closed for the President's Day holiday.
Oil prices rise.
Energy producers including Santos Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices pushed higher again. According to Bloomberg, the WTI crude oil price rose 0.55% to US$52.33 a barrel and the Brent crude oil price is up 0.6% to US$57.65 a barrel.
Altium half year results.
The Altium Limited (ASX: ALU) share price will be on watch today following the release of its half year results after the market close on Monday. For the six months ended December 31, Altium reported half year revenue (excluding interest) of US$92.85 million and EBITDA of US$36.8 million. This was a 19% and 22% increase, respectively, over the prior corresponding period. However, the company warned that it is likely to land at the lower end of its full year guidance range due partly to the coronavirus.
Gold price lower.
Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price edged lower. According to CNBC, the spot gold price is down 0.15% to US$1,584.10 an ounce.
Results, results, results.
A large number of companies are scheduled to release their results on Tuesday morning. These includes safety products company Ansell Limited (ASX: ANN), mining giant BHP Group Ltd (ASX: BHP), hearing solutions company Cochlear Limited (ASX: COH), supermarket giant Coles Group Ltd (ASX: COL), and shopping centre operator Scentre Group (ASX: SCG).
