5 things to watch on the ASX 200 on Thursday 31 March 2022

5 things to watch on the ASX 200 on Thursday

Here's what to expect on the ASX 200 on Thursday…

James Mickleboro

Author Bio James Mickleboro is an investment writer and analyst who has worked with The Motley Fool Australia for 10 years, covering ASX shares, market news, broker research, dividends, growth stocks, and long-term investing ideas. Over that time, James has written extensively about Australian equities and developed a particular focus on helping everyday investors understand the stories behind share price moves, company announcements, broker views, and broader market trends. His best investment recommendation was identifying Afterpay while it was still a small-cap growth share, before its rise into one of Australia’s biggest technology success stories. His worst investment lesson came from CSL Ltd (ASX: CSL), where he was burnt by believing management could turn the business around sooner than the market ultimately allowed. Areas of Expertise ASX shares Growth and dividend investing Broker research Interpreting company announcements Market news Portfolio strategy Long-term wealth creation Education Bachelor of Politics, Philosophy and Economics. CFA Institute Social Media LinkedIn James is the founder of Evermore Asset Management, which focuses on undercovered global stocks. Favourite Investment Quote "It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price." — Warren Buffett

Published March 31, 2022 6:18 am AEDT

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had another good day and stormed higher. The benchmark index rose 0.7% to 7,514.5 points.

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

Business woman watching stocks and trends while thinking — Image Source: Getty Images

ASX 200 expected to rise

The Australian share market looks set to edge higher on Thursday despite a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% higher this morning. In late trade on Wall Street, the Dow Jones is down 0.5%, the S&P 500 is down 0.9%, and the Nasdaq has tumbled 1.4%.

Ramsay rated as a buy

The Ramsay Health Care Limited (ASX: RHC) share price could be in the buy zone according to Goldman Sachs. This morning the broker retained its buy rating and $74.00 price target on the private hospital operator's shares. Goldman said: "With restrictions continuing to ease across all major markets, RHC is seeing a stronger, albeit uneven, volume development through 2H22 to date."

Oil prices rebound

It could be a good day for energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 3.25% to US$107.63 a barrel and the Brent crude oil price is up 2.45% to US$112.92 a barrel. Tight supply and the prospect of new Russian sanctions boosted prices.

Shares going ex-dividend

The shares of auto retailer Eagers Automotive Ltd (ASX: APE) and retail giant Harvey Norman Holdings Limited (ASX: HVN) are going ex-dividend this morning and are likely to trade lower. Eligible shareholders can now look forward to receiving their fully franked dividends of 42.5 cents per share and 20 cents per share, respectively, on 20 April and 2 May.

Gold price rises

It could be a good day for gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) after the gold price pushed higher. According to CNBC, the spot gold price is up 1% to US$1,937.4 an ounce. A weaker US dollar gave the precious metal a boost.

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