On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a positive fashion. The benchmark index rose 0.5% to 7,478 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 start the week on a positive note despite a mixed finish to the last one on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 27 points or 0.35% higher this morning. On Wall Street, the Dow Jones rose 0.4%, the S&P 500 fell 0.3%, and the Nasdaq sank 1.3%.
Oil prices rise
Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a good start to the week after oil prices pushed higher. According to Bloomberg, the WTI crude oil price rose 2.3% to US$98.26 a barrel and the Brent crude oil price rose 2.2% to US$102.78 a barrel. This couldn’t stop oil prices recording a second consecutive weekly decline thanks to stockpile releases.
Pro Medicus shares still a sell
The team at Goldman Sachs believes the Pro Medicus Limited (ASX: PME) share price remains expensive. In response to a major $32 million contract win with Inova Health System, the broker has retained its sell rating and $44.80 price target. While Goldman is a fan of the healthcare technology company, it notes that its “valuation remains highly elevated.”
Gold price rises
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a decent start to the week after the gold price edged higher on Friday night. According to CNBC, the spot gold price rose 0.4% to US$1,945.6 an ounce. Geopolitical risks and rising inflation offered support to the precious metal.
Brickworks goes ex-dividend
The Brickworks Limited (ASX: BKW) share price is likely to trade lower today when it goes ex-dividend for the building products company’s latest dividend payment. Last month the company declared a fully franked interim dividend of 22 cents per share. This will be paid to eligible shareholders next month on 3 May.