5 things to watch on the ASX 200 on Monday

Brickworks Limited (ASX:BKW) and Xero Limited (ASX:XRO) 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 a very positive week on a subdued note. The benchmark index fell ever so slightly to 6,995.2 points.

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

ASX 200 expected to rise

The Australian share market looks set to start the week on a positive note following a solid finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 6 points or 0.1% higher this morning. On Wall Street on Friday night, the Dow Jones rose 0.9%, the S&P 500 climbed 0.8%, and the Nasdaq pushed 0.5% higher. The Dow hit a record high after adding 2% for the week.

Xero shares rated as a buy

The Xero Limited (ASX: XRO) share price could be going higher from here according to one leading broker. This morning analysts at Goldman Sachs retained their buy rating but trimmed their price target slightly to $153.00. Goldman notes that Xero is tracking well, with its data showing that accounting partner numbers continue to grow strongly and the number of apps in its ecosystem also increasing.

Oil prices soften

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch today after oil prices softened. According to Bloomberg, the WTI crude oil price fell 0.5% to US$59.32 a barrel and the Brent crude oil price dropped 0.4% to US$62.95 a barrel. Oil prices fell after its supply outlook outweighed rising demand.

Gold price falls

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could come under pressure after the gold price tumbled on Friday night. According to CNBC, the spot gold price fell 0.75% to US$1,744.80 an ounce. Rising bond yields weighed on the precious metal.

Brickworks goes ex-dividend

The Brickworks Limited (ASX: BKW) share price is going ex-dividend this morning and could trade lower. Last month the building products company declared a fully franked interim dividend of 21 cents. This will now be paid to eligible shareholders later this month on 28 April.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of and has recommended Brickworks. 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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