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5 things to watch on the ASX 200 on Thursday

A graphic showing share price movement, ASX market watch
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On Wednesday the S&P/ASX 200 Index (ASX: XJO) was on form and charged higher. The benchmark index rose 0.65% to 7,023.1 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 futures pointing lower

The Australian share market looks set to give back a lot of yesterday’s gain this morning. According to the latest SPI futures, the ASX 200 is poised to open the day 40 points or 0.6% lower. This follows a disappointing night of trade on Wall Street, which saw the Dow Jones rise 0.15%, but the S&P 500 drop 0.4% and the Nasdaq tumble 1% lower.

Zip capital raising

The Zip Co Ltd (ASX: Z1P) share price could return from its trading halt today after announcing the details of its capital raising. The buy now pay later provider is aiming to raise A$400 million via senior unsecured convertible notes due in 2028. The additional capital from the offering will be used to support the active pursuit of both core and international growth opportunities.

Oil prices jump

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a strong day today after oil prices jumped. According to Bloomberg, the WTI crude oil price is up 4.6% to US$62.94 a barrel and the Brent crude oil price has stormed 4.3% higher to US$66.41 a barrel. Increasing demand and a decline in inventories helped drive prices higher.

Gold price falls

Gold miners Newcrest Mining Ltd (ASX: NCM) and Resolute Mining Limited (ASX: RSG) could trade lower today after the gold price softened. According to CNBC, the spot gold price is down 0.6% to US$1,736.90 an ounce. Firmer bond yields have been weighing on the safe haven asset.

Bank of Queensland half year results

The Bank of Queensland Limited (ASX: BOQ) share price will be on watch today when it hands in its half year results. According to a note out of Goldman Sachs, its analysts are expecting the bank to report cash earnings of $164 million. This will be an increase of 9% over the prior corresponding period. The broker expects this to allow the Bank of Queensland board to declare a fully franked interim dividend of 17 cents per share.

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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 ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. 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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