5 things to watch on the ASX 200 on Monday

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

| More on:
Smiling man with phone in wheelchair watching stocks and trends on computer

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Friday the S&P/ASX 200 Index (ASX: XJO) finished the week on a mildly positive note. The benchmark index rose slightly to 7,415.5 points.

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

ASX 200 expected to rise

The Australian share market looks set to have a positive start to the week. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.4% higher this morning. This is despite a mixed ended to the week on Wall Street, which saw the Dow Jones rise 0.2%, the S&P 500 fall 0.1%, and the Nasdaq drop 0.8%.

Oil prices rise

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a solid start to the week after oil prices pushed higher on Friday night. According to Bloomberg, the WTI crude oil price is up 1.5% to US$83.76 a barrel and the Brent crude oil price has risen 1.1% to US$85.53 a barrel. Prices rose amid tightening US supply.

Elders named as a buy

The Elders Ltd (ASX: ELD) share price could be great value according to analysts at Goldman Sachs. This morning the broker put a conviction buy rating and $15.65 price target on the agribusiness company. This implies potential upside of ~37%. Goldman believes it is a compelling growth opportunity underpinned by strong fundamentals.

Gold price rises

Gold miners 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 0.8% to US$1,796.30 an ounce. A softening US dollar boosted the price of the precious metal.

Iron ore price rebounds

BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares could rise today after the spot iron ore price rebounded on Friday night. According to Metal Bulletin, the benchmark iron ore price rose 2.2% to US$119.52 a tonne. The low grade iron ore price climbed 3.7%, which will be good news for Fortescue shareholders.

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 recommended Elders Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A man in his 30s holds his computer underneath and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.
Financial Shares

Are AMP shareholders heading for a $1 billion pay day?

AMP shareholders could benefit from buybacks following the successful divestment of AMP’s Collimate Capital business.

Read more »

Smiling man with phone in wheelchair watching stocks and trends on computer
Share Market News

5 things to watch on the ASX 200 on Tuesday

Here's what to expect on the ASX 200 on Tuesday...

Read more »

Businessman cheering at desk with arms in the air
Share Market News

Here are the top 10 ASX 200 shares today

These ten ASX 200 shares outperformed all others on Monday.

Read more »

A man wearing a suit holds his arms aloft with a smile on his face is attached to a large lithium battery with green charging symbols on it.
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Monday

It's all about that lithium for the most traded ASX 200 shares today.

Read more »

a man sits on his sofa loong at his phone and raises a fist to the air in happy celebration.
Share Market News

Why is the Latin Resources share price leaping 30% today?

What a great day it's been for Latin Resources shareholders.

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
Share Market News

Could inflation now be fully priced in to ASX 200 shares?

Will strong inflation no longer surprise investors?

Read more »

stylised silhouette of a bear on financial graph background
Share Market News

These are the 10 most shorted ASX shares

Short sellers are currently targeting these ASX shares...

Read more »

Broker looking at the share price on her laptop with green and red points in the background.
Share Market News

5 things to watch on the ASX 200 on Monday

A busy day is expected for the ASX 200 on Monday...

Read more »