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5 things to watch on the ASX 200 on Monday

ASX share
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On Friday the S&P/ASX 200 Index (ASX: XJO) was out of form and finished the week deep in the red. The benchmark index fell 0.85% to 6,073.8 points.

Will the market be able to bounce back from this on Monday? Here are five things to watch:

ASX 200 to drop lower.

The ASX 200 looks set to start the week in the red. According to the latest SPI futures, the benchmark index is expected to open the week a disappointing 40 points lower. This is despite Wall Street finishing the week strongly on Friday. The Dow Jones climbed 0.6%, the S&P 500 rose 0.8%, and the Nasdaq pushed 0.6% higher.

Fortescue shares trade ex-dividend.

The Fortescue Metals Group Limited (ASX: FMG) share price is likely to tumble lower today when it trades ex-dividend for its final dividend. The iron ore producer is paying shareholders a final fully franked $1.00 per share dividend. This equates to a 5.3% dividend yield, which could mean its shares fall by a similar margin.

IOOF results and potential AMP acquisition.

The IOOF Holdings Limited (ASX: IFL) share price will be in focus this morning when the financial services company announces its full year results. According to CommSec, the market is expecting a net profit after tax of $132.6 million. The company is also planning to announce a potential significant transaction. There is speculation the company could be interested in acquiring AMP Limited (ASX: AMP).

Oil prices mixed.

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch after a mixed end to the week for oil prices. According to Bloomberg, on Friday night the WTI crude oil price fell 0.15% to US$42.97 a barrel and the Brent crude oil price rose 0.45% to US$45.81 a barrel. Oil prices have now recorded gains for six out of the last seven weeks.

Gold price jumps.

The shares of Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could be storming higher today after a strong finish to the week for the gold price. According to CNBC, the spot gold price jumped 2.2% to US$1,974.90 an ounce. U.S. dollar weakness supported the price of the precious metal.

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