On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a positive fashion. The benchmark index rose 0.6% to 7,015.6 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to edge lower
The Australian share market looks set to start the week with a small decline following a mixed night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% lower this morning. On Wall Street, the Dow Jones was up 0.2%, the S&P 500 fell 0.15%, and the NASDAQ dropped 0.5%.
Oil prices rebound
Energy producers Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a decent start to the week after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price rose 0.5% to US$89.01 a barrel and the Brent crude oil price climbed 0.85% to US$94.92 a barrel. Oil prices rebounded from their lowest levels since February after concerns over supply shortages offset expected declines in fuel demand.
Suncorp results
The Suncorp Group Ltd (ASX: SUN) share price will be on watch on Monday when the insurance giant releases its full year results. According to CommSec, the market is expecting the company to report a net profit after tax of $699 million for FY 2022. This is expected to underpin a final fully franked 23 cents per share dividend.
Gold price slides
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price tumbled on Friday night. According to CNBC, the spot gold price was down 0.8% to US$1,792.40 an ounce. A strong US jobs report eased recession fears and reduced the appeal of the safe haven asset.
Aurizon results
The Aurizon Holdings Ltd (ASX: AZJ) share price will be in focus on Monday when the rail freight operator releases its full year results. The market is expecting the company to report a net profit after tax of $513 million and a final dividend of 10.9 cents.
