5 things to watch on the ASX 200 on Friday

Premier Investments Limited (ASX:PMV) and Westpac Banking Corp (ASX:WBC) shares will be on watch on the ASX 200 on Friday…

| More on:

Image source: Getty Images

On Thursday the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped notably lower following heavy declines by tech and gold miner shares. The benchmark index fell 0.8% to 5,875.9 points.

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

ASX 200 futures pointing higher.

It looks set to be a better day of trade for the ASX 200 index on Friday. According to the latest SPI futures, the benchmark index is poised to rise 6 points or 0.1% at the open. This follows a positive night of trade on Wall Street, which saw the Dow Jones rise 0.2%, the S&P 500 climb 0.3%, and the Nasdaq index push 0.4% higher.

Oil prices mixed.

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be on watch today after a mixed night of trade for oil prices. According to Bloomberg, the WTI crude oil price is up 0.6% to US$40.18 a barrel and the Brent crude oil price is down slightly to US$41.76 a barrel. Traders appear undecided on oil prices amid falling inventories but concerns over demand.

Gold price recovers.

Gold miners Evolution Mining Ltd (ASX: EVN) and Saracen Mineral Holdings Limited (ASX: SAR) could be on the rise today after the gold price recovered after a series of declines. According to CNBC, the spot gold price is up 0.3% to US$1,873.40 an ounce. The precious metal tumbled to a two-month low during Thursday’s trade.

Premier Investments full year results.

The Premier Investments Limited (ASX: PMV) share price will be one to watch this morning when it hands in its full year results. According to a note out of Goldman Sachs, its analysts expect the company to report net profit after tax of $152.2 million on a pre-AAB16 basis or $138.8 million adjusted for AASB-16. The latter is up 11.1% year on year. Goldman is also forecasting a fully franked 20 cents per share final dividend, down from 37 cents per share a year earlier.

Westpac rated as a buy.

Analysts at Goldman Sachs have retained their buy rating on Westpac Banking Corp (ASX: WBC) shares after it announced a $1.3 billion settlement with AUSTRAC. The broker has a $19.80 price target on the banking giant’s shares. It commented: “With this significant overhang for the stock now behind it, at a digestible incremental financial cost, we expect the stock to begin to re-rate (currently trades at a 17% PER discount to peers, versus in line historically), and reiterate our Buy.”

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 15/2/2021

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended Premier Investments 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.

More on Share Market News

man at casino throwing chips in the air
Broker Notes

Why the Aristocrat share price is surging again today

The gain comes on top of its 6.7% surge yesterday.

Read more »

A white and black clock face is shown with three hands saying Time to Buy reflecting Wilson Asset Management's two ASX share picks in its WAM Research portfolio
Broker Notes

Brokers name 3 ASX shares to buy today

Brokers are bullish on these ASX shares...

Read more »

Illustration of men and women pushing share price graph up
Share Market News

Why are ASX 200 shares rebounding on Friday?

China's COVID-zero policies have slowed its economic growth and impacted its trading partners.

Read more »

Boy looks quizzical standing in front of a graph.
Share Market News

Here are the 3 most traded ASX 200 shares on Friday

We take a look at the most traded ASX 200 shares by volume today.

Read more »

Red arrow going down on a stock market table which symbolises a falling share price.
Share Fallers

Why Australian Vanadium, John Lyng, Nufarm, and Unibail-Rodamco-Westfield are dropping

These ASX shares are ending the week in the red...

Read more »

A female coal miner wearing a white hardhat and orange high-vis vest holds a lump of coal and smiles as the Whitehaven Coal share price rises today
Share Gainers

Why are ASX coal shares charging higher again today?

The global energy crisis has pushed coal prices to all-time highs.

Read more »

A man leaps from a stack of gold coins to the next, each one higher than the last.
Technology Shares

Why is the Block share price leaping 9% on Friday?

Block shares are storming ahead on a good day for the ASX tech sector.

Read more »

A path through the grass leads to two signs, pointing to profit and loss
Broker Notes

These ASX All Ordinaries shares have the greatest margin risks from surging inflation: UBS

Several ASX shares could be at risk from the threat of higher inflation.

Read more »