The Motley Fool

5 things to watch on the ASX 200 on Thursday

On Wednesday the S&P/ASX 200 index came under pressure again and sank lower. The benchmark index fell 1.7% to 6,325.4 points.

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

ASX 200 set to rebound.     

The S&P/ASX 200 index looks set to rebound strongly on Thursday after a very positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to jump 76 points or 1.2% at the open. In late trade on Wall Street the Dow Jones is up 3.3%, the S&P 500 index has risen 3%, and the Nasdaq index has pushed 2.6% higher.

TPG Telecom results.

The TPG Telecom Ltd (ASX: TPM) share price will be on watch this morning when the telco giant releases its half year results. According to a note out of Goldman Sachs, its analysts expect TPG Telecom to report a 1% increase in revenue to $1,243 million and a 41% decline in net profit after tax. The market will also be watching for any changes to its guidance. TPG Telecom has previously stated that it expects BAU EBITDA of $735 million to $750 million in FY 2020.   

Oil prices lower.

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could come under pressure after oil prices dropped lower. According to Bloomberg, the WTI crude oil price has fallen 0.7% to US$46.88 a barrel and the Brent crude oil price has fallen 1.2% to US$51.26 a barrel. Traders appear nervous ahead of the upcoming OPEC meeting.

Gold price slides.

Improving investor sentiment has put pressure on the gold price and could weigh on gold miners including Northern Star Resources Ltd (ASX: NST) and St Barbara Ltd (ASX: SBM). According to CNBC, the spot gold price has dropped 0.3% to US$1,639.50 an ounce.

Shares going ex-dividend.

A number of ASX 200 shares are due to trade ex-dividend this morning and are likely to drop lower. These include stock exchange operator ASX Ltd (ASX: ASX), mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO), travel company Corporate Travel Management Ltd (ASX: CTD), and insurance giant QBE Insurance Group Ltd (ASX: QBE).

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. 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.