5 things to watch on the ASX 200 on Monday

Costa Group Holdings Ltd (ASX:CGC) and NIB Holdings Limited (ASX:NHF) shares will be on watch on the ASX 200 on Monday…

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On Friday the S&P/ASX 200 Index (ASX: XJO) finished the week with a very disappointing decline. The benchmark index fell 1.35% to 6,793.8 points.

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

ASX futures pointing lower

The Australian share market looks set to start the week in the red. According to the latest SPI futures, the ASX 200 is expected to open the week 11 points or 0.15% lower this morning. This follows a mixed end to the week on Wall Street on Friday night. That saw the Dow Jones trade flat, the S&P 500 fall 0.2%, and the Nasdaq index up slightly.

Oil prices sink lower

Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could start the week in the red after oil prices sank lower on Friday night. According to Bloomberg, the WTI crude oil price fell 2.1% to US$59.24 a barrel and the Brent crude oil price fell 1.6% to US$62.91 a barrel. This led to oil prices having their first negative week in three weeks.

NIB half year results

The NIB Holdings Limited (ASX: NHF) share price will be on watch today when it hands in its half year results. According to a note out of Morgans, its analysts expect the private health insurer to report an underlying profit of $82 million and cash earnings of $85 million. This is expected to lead to NIB declaring a 10 cents per share fully franked interim dividend.

Gold price pushes higher

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price edged higher on Friday. According to CNBC, the spot gold price rose 0.15% to US$1777.40 an ounce. The gold price dropped to a seven-month low last week amid rising treasury yields.

Costa results

This morning investors will be watching the Costa Group Holdings Ltd (ASX: CGC) share price when it hands in its FY 2020 results. Analysts at Morgans believe there is upside risk to its net profit after tax forecast of $52.2 million and the market consensus of $48.1 million. It notes that retail demand and pricing has been favourable across much of its domestic business.

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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 and has recommended COSTA GRP FPO. The Motley Fool Australia has recommended NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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