On Thursday, the S&P/ASX 200 Index (ASX: XJO) fought hard to continue its positive run and carved out a small gain. The benchmark index rose 0.1% to 7,387.1 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:
Image source: Getty Images
ASX 200 expected to rise again
The Australian share market looks set to end the week on a positive note following a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 26 points or 0.35% higher this morning. In late trade in the US, the Dow Jones is up 0.85%, the S&P 500 is up 1.2%, and the Nasdaq is up 1.6%.
Oil prices ease
Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a poor finish to the week after oil prices eased. According to Bloomberg, the WTI crude oil price is down 3.1% to US$111.34 a barrel and the Brent crude oil price is down 3% to US$117.88 a barrel. Traders were selling oil amid hopes that Iranian oil will boost supply.
Premier Investments half year results
The Premier Investments Limited (ASX: PMV) share price will be on watch today when the retail giant releases its half year results. The Smiggle and Peter Alexander owner has previously guided to half year EBIT in the range of $209.5 million and $211.5 million on revenue of $769 million.
Gold price rises
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 pushed higher. According to CNBC, the spot gold price is up 1.3% to US$1,962.40 an ounce. Demand for safe haven assets amid the Ukraine-Russia conflict and inflation concerns boosted the precious metal.
NAB shares rated as a buy
The National Australia Bank Ltd (ASX: NAB) share price remains in the buy zone according to analysts at Bell Potter. This morning the broker retained its buy rating and lifted its price target on the banking giant's shares to $34.50. This follows news that NAB is undertaking another $2.5 billion on-market share buy-back.
