5 things to watch on the ASX 200 on Friday

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

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) was a strong performer for a second day in a row. The benchmark index rose 1.05% to 7,250.8 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 rise

The Australian share market looks set to end the week on a positive note following a decent night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 38 points or 0.5% higher this morning. In late trade in the US, the Dow Jones is up 0.65%, the S&P 500 is up 0.7%, and the Nasdaq is up 0.7%.

Oil prices jump

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a strong finish to the week after oil prices jumped. According to Bloomberg, the WTI crude oil price is up 9.2% to US$103.77 a barrel and the Brent crude oil price is up 9.4% to US$107.34 a barrel. This comes amid warnings from the IEA that supply is expected to fall more than demand.

Megaport selldown

The Megaport Ltd (ASX: MP1) share price will be on watch today following reports that a major shareholder is selling down their holding. According to the AFR, company founder and chairman Bevan Slattery is rumoured to have sold 3 million shares at a discount of $13.05 per share. This valued the stake at $40 million. The Megaport share price was fetching $14.14 at the close of play yesterday.

Gold price rebounds

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a good finish to the week after the gold price rebounded. According to CNBC, the spot gold price is up 1.7% to US$1,941.10 an ounce. Demand for safe haven assets boosted the precious metal.

Carsales goes ex-dividend

The Carsales.Com Ltd (ASX: CAR) share price could end the week in the red. That’s because this morning the auto listings company’s shares are trading ex-dividend for its fully franked 25.5 cents per share interim dividend. This dividend will then be paid to eligible shareholders next month on 19 April. Hub24 Ltd (ASX: HUB) shares are also trading ex-dividend today.

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. owns and has recommended Hub24 Ltd and MEGAPORT FPO. The Motley Fool Australia owns and has recommended Hub24 Ltd. The Motley Fool Australia has recommended MEGAPORT FPO and carsales.com Limited. 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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