5 things to watch on the ASX 200 on Monday 16 August 2021

5 things to watch on the ASX 200 on Monday

It's going to be a busy day for the ASX 200 on Monday…

James Mickleboro

Author Bio James Mickleboro is an investment writer and analyst who has worked with The Motley Fool Australia for 10 years, covering ASX shares, market news, broker research, dividends, growth stocks, and long-term investing ideas. Over that time, James has written extensively about Australian equities and developed a particular focus on helping everyday investors understand the stories behind share price moves, company announcements, broker views, and broader market trends. His best investment recommendation was identifying Afterpay while it was still a small-cap growth share, before its rise into one of Australia’s biggest technology success stories. His worst investment lesson came from CSL Ltd (ASX: CSL), where he was burnt by believing management could turn the business around sooner than the market ultimately allowed. Areas of Expertise ASX shares Growth and dividend investing Broker research Interpreting company announcements Market news Portfolio strategy Long-term wealth creation Education Bachelor of Politics, Philosophy and Economics. CFA Institute Social Media LinkedIn James is the founder of Evermore Asset Management, which focuses on undercovered global stocks. Favourite Investment Quote "It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price." — Warren Buffett

Published August 16, 2021 6:35 am AEST

On Friday the S&P/ASX 200 Index (ASX: XJO) finished a very strong week on a positive note. The benchmark index rose 0.5% to 7,628.9 points.

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

man looking through binoculars — Image source: Getty Images

ASX 200 expected to fall

The Australian share market looks set to give back some its gains on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% lower. This follows a subdued but positive end to the week on Wall Street, which saw the Dow Jones rise slightly, the S&P 500 climb 0.15%, and the Nasdaq edge lightly higher.

Oil prices drop

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be under pressure today after oil prices dropped on Friday night. According to Bloomberg, the WTI crude oil price is down 1% to US$68.44 a barrel and the Brent crude oil price has fallen 1% to US$70.59 a barrel. Concerns that the Delta strain of COVID-19 could impact demand weighed on prices.

Carsales results

The Carsales.Com Ltd (ASX: CAR) share price will be on watch when the auto listings company releases its full year results. According to a note out of Goldman Sachs, it expects Carsales to report a 7% increase in revenue to $425 million and a 19% increase in EBITDA to $242 million. This compares to the consensus estimate of $427 million and $246 million, respectively.

Gold price rises

Australian gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could start the week strongly after the gold price stormed higher on Friday night. According to CNBC, the spot gold price rose 1.5% to US$1,778.2 an ounce. Weakness in the US dollar supported the precious metal.

Other results releases

It isn't just Carsales releasing its results today. Also pencilled in to release their respective results are regional bank Bendigo and Adelaide Bank Ltd (ASX: BEN), steel giant BlueScope Steel Limited (ASX: BSL), retail giant JB Hi-Fi Limited (ASX: JBH), and global property company Lendlease Group (ASX: LLC).

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