On Wednesday the S&P/ASX 200 Index (ASX: XJO) gave back its morning gains and dropped into the red. The benchmark index fell 0.3% to 7,092.5 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to recover some of yesterday’s losses on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% higher this morning. This follows a reasonably positive night on Wall Street, which saw the Dow Jones trade flat, the S&P 500 rise 0.2%, and the Nasdaq climb 0.6%.
Ramsay announces $1.8 billion acquisition
The Ramsay Health Care Limited (ASX: RHC) share price will be one to watch after announcing plans to acquire Spire Healthcare for approximately 1 billion pounds (A$1,822 million). Spire is a London Stock Exchange-listed independent hospital group in the United Kingdom with a focus on the private patient market. It is also a leading provider of high-acuity care. Management believes the acquisition will be transformational for Ramsay’s UK business.
Oil prices rise
Energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) will be on watch after oil prices pushed slightly higher overnight. According to Bloomberg, the WTI crude oil price is up 0.15% to US$66.16 a barrel and the Brent crude oil price has risen 0.25% to US$68.82 a barrel. Demand optimism gave prices a boost.
Gold price softens
Gold miners Evolution Mining Ltd (ASX: EVN) and Resolute Mining Limited (ASX: RSG) could trade lower today after the gold price softened overnight. According to CNBC, the spot gold price is down 0.1% to US$1,896.30 an ounce. The gold price slipped after the US dollar strengthened.
Fisher & Paykel Healthcare results
The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price could be on the move today when it hands in its full year results. The medical device company has previously guided to full year operating revenue of ~NZ$1.72 billion and net profit after tax of NZ$400 million to NZ$415 million. Analysts at Credit Suisse are forecasting a result well ahead of this guidance due largely to COVID-19 related sales.