5 things to watch on the ASX 200 on Monday 8 August 2022

5 things to watch on the ASX 200 on Monday

A busy day is expected for the ASX 200 on Monday…

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 Favorite 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 August 8, 2022 6:07 am AEST

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:

Broker looking at the share price on her laptop with green and red points in the background. — Image source: Getty Images

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.

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