On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.5% to 7,151.4 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to end the week in a disappointing fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 44 points or 0.6% lower this morning. This follows a mixed night on Wall Street, which in late trade sees the Dow Jones up 0.3%, the S&P 500 trading flat, and the Nasdaq down 0.9%.
CSL acquisition update
The CSL Limited (ASX: CSL) share price will be on watch on Friday. This follows the release of an update on its proposed acquisition of Vifor Pharma after the market close on Thursday. According to the release, following a public tender offer, 74% of Vifor shares have been tendered. While this was short of its target, CSL has decided to waive the original 80% acceptance rate condition and declare the offer successful. This puts the acquisition on course to complete mid-2022.
Oil prices ease
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a subdued finish to the week after oil prices eased. According to Bloomberg, the WTI crude oil price is down 1.1% to US$109.48 a barrel and the Brent crude oil price is down 0.6% to US$112.28 a barrel. Oil prices hit 2008 highs before paring their gains.
Gold price rises
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price pushed higher. According to CNBC, the spot gold price is up 0.7% to US$1,935.7 an ounce. The Russia-Ukraine crisis boosted the appeal of the safe haven asset.
Xero shares given buy rating
The Xero Limited (ASX: XRO) share price remains in the buy zone according to the team at Goldman Sachs. This morning the broker retained its buy rating but trimmed its price target to $135.00. Despite the price target reduction, it still implies potential upside of 35% for investors over the next 12 months.
