5 things to watch on the ASX 200 on Friday

Here's what to expect on the ASX 200 on Friday…

Business woman watching stocks and trends while thinking

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a strong day and charged higher. The benchmark index rose 0.7% to 7,048.1 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to end the week on a positive note following a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 7 points or 0.1% higher this morning. On Wall Street, the Dow Jones rose 1%, the S&P 500 climbed 1.4%, and the Nasdaq stormed 1.6% higher.

Oil prices fall

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices pulled back overnight. According to Bloomberg, the WTI crude oil price is down 1.9% to US$93.10 a barrel and the Brent crude oil price is down 1.3% to US$99.96 a barrel. The prospect of banned Iranian oil exports hitting the market put pressure on prices.

Wesfarmers results

The Wesfarmers Ltd (ASX: WES) share price will be one to watch on Friday. This morning the conglomerate is scheduled to release its full year results. According to a note out of Citi, its analysts are expecting the company to report a net profit after tax of $2,237 million. This is a touch ahead of the market consensus estimate of $2,226.7 million.

Gold price higher

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.5% to US$1,771.10 an ounce. An easing US dollar appears to have given the safe haven asset a lift.

Ramsay results and takeover update

The Ramsay Health Care Limited (ASX: RHC) share price will be on watch for a couple of reasons on Friday. Firstly, the private healthcare company is due to release its full year results, with the market forecasting a net profit after tax of $321 million. Secondly, the company has provided an update on its takeover approach. KKR's $88 cash per share non-binding offer is still in play with Ramsay highlighting that the suitor has "not identified any matters that would cause the Consortium to terminate its pursuit of the Indicative Proposal."

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. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »