5 things to watch on the ASX 200 on Monday

Inghams Group Ltd (ASX:ING) and Link Administration Holdings Ltd (ASX:LNK) 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 positive week with a strong gain. The benchmark index rose 1.2% to 7,179.5 points. This was a record close for the index.

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

ASX 200 expected to open slightly higher

The Australian share market is expected to open the week slightly higher this morning. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% higher. This follows a subdued but positive end to the week on Wall Street. The Dow Jones rose 0.2%, the S&P 500 climbed 0.1%, and the Nasdaq edged 0.1% higher.

Link’s PEXA business to IPO

The Link Administration Holdings Ltd (ASX: LNK) share price will be on watch today. This follows reports that the company’s part-owned PEXA business will be undertaking an IPO in the very near future. According to the AFR, the property settlements business will be valued at $3.3 billion on a 100% basis. This follows a takeover offer last week by private equity firm KKR valuing the business at $3 billion.

Oil prices soften

It could be a poor start to the week for energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices softened on Friday. According to Bloomberg, the WTI crude oil price fell 0.8% to US$66.32 a barrel and the Brent crude oil price dropped 0.7% to US$68.72 a barrel. This wasn’t enough to stop both benchmarks from recording gain of over 3% for the week.

Gold price rises

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price pushed higher on Friday night. According to CNBC, the spot gold price rose 0.35% to US$1,905.30 an ounce. This meant the precious metal climbed 1.4% over the five days, thanks partly to a pullback in bond yields and the US dollar.

Inghams rated as a buy

The Inghams Group Ltd (ASX: ING) share price may have jumped 8% on Friday but analysts at Goldman Sachs still see a lot of value in the poultry producer. In response to its trading update, the broker has retained its buy rating and lifted its price target to $4.50. This compares to the latest Inghams share price of $3.40.

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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 Link Administration Holdings Ltd. The Motley Fool Australia has recommended Link Administration Holdings Ltd. 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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