5 things to watch on the ASX 200 on Monday

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

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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.

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 Brickworks and Pro Medicus Ltd. The Motley Fool Australia owns and has recommended Brickworks and Pro Medicus Ltd. 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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