On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had one of its best days of the year. The benchmark index rose a massive 1.65% to 6,759.2 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market is expected to fall on Thursday despite another solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 28 points or 0.4% lower this morning. On Wall Street, the Dow Jones was up 0.15%, the S&P 500 rose 0.6%, and the NASDAQ stormed 1.6% higher.
ANZ shares to return
The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is scheduled to return to trade this morning. This follows the completion of the institutional component of the banking giant's capital raising. ANZ is raising $3.5 billion at a 12.7% discount of $18.90 to fund the acquisition of the banking operations of Suncorp Group Ltd (ASX: SUN) for $4.9 billion. The bank's plan has received a relatively mixed reaction from the market.
Oil prices tumble
Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a tough day after a poor night of trade for oil prices. According to Bloomberg, the WTI crude oil price is down 1.5% to US$102.61 a barrel and the Brent crude oil price is down 0.5% to US$106.77 a barrel. Softening US gasoline demand weighed on prices.
Gold price sinks
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a poor day after the gold price sank overnight. According to CNBC, the spot gold price is down 1% to US$1,693.4 an ounce. Improving risk sentiment and a strong US dollar put pressure on the safe haven asset.
Zip's Q4 update
The Zip Co Ltd (ASX: ZIP) share price will be one to watch this morning when the buy now pay later (BNPL) provider releases its fourth quarter and full year update. According to a note out of Macquarie, its analysts are expecting Zip to report a 59.9% increase in revenue to $644.24 million for FY 2022.
