5 things to watch on the ASX 200 on Thursday

Here’s what to expect on the ASX 200 today…

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On Wednesday the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.3% to 7,296.9 points.

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

ASX 200 expected to rise

The Australian share market looks set to rise on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% higher this morning. This follows a strong night of trade on Wall Street, which saw the Dow Jones rise 1%, the S&P 500 climb 0.95%, and the Nasdaq jump 1%.

Transurban returns

The Transurban Group (ASX: TCL) share price will be on watch today when it returns from its trading halt. The toll road operator requested the halt earlier this week so it could undertake the institutional component of an equity raising. Transurban is raising funds to acquire the remaining stake in WestConnex.

Oil prices storm higher

It could be a good day for energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) after oil prices stormed higher. According to Bloomberg, the WTI crude oil price is up 2.1% to US$71.97 a barrel and the Brent crude oil price has risen 2.1% to US$75.93 a barrel. Traders were buying oil following a greater than expected drawdown of US supplies.

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price dropped. According to CNBC, the spot gold price is down 0.6% to US$1,767.30 an ounce. The gold price fell despite the US Federal Reserve holding interest rates steady.

SeaLink joint venture

The Sealink Travel Group Ltd (ASX: SLK) share price will be one to watch today following an announcement after the market close. According to the release, the company has entered into a binding agreement to form a joint venture with RATP Dev UK. The joint venture is expected to employ over 4,000 staff, operate 1,250 buses on 115 routes from 10 garages in Western London, with anticipated turnover in the region of £275 million per annum.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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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